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2021-10-03

Personally wont go for bank stock

抱歉，原内容已删除

2021-10-01

Q4 pls pick up

S&P500 futures drop 0.6% after S&P500 posts first monthly decline since January<blockquote>标准普尔 500 指数自 1 月份以来首次月度下跌，标准普尔 500 指数期货下跌 0.6%</blockquote>

2021-09-29

Pls like

These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些 2021 年飞涨的股票周二跌幅最大</blockquote>

2021-09-27

Done

Tesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试版按钮”上线了。这对股票意味着什么。</blockquote>

2021-09-25

Lets see how price will react next week

抱歉，原内容已删除

2021-09-24

Tsla will be 3x in 5 years time

SFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA 在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote>

2021-09-21

Apple still a good stock for long term hold

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2021-09-19

Get ready!

US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国 IPO 周即将到来：软件、消费品和支付技术引领多元化的 IPO 周 14</blockquote>

2021-09-13

Need go be prepared for this

U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临秋季坎坷的风险</blockquote>

2021-09-08

Inflation coming

抱歉，原内容已删除

2021-09-07

They maybe over exaggerating when talking about gains

Investors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘自己精选的股票，但要小心那些使用花哨的数学来计算收益的人</blockquote>

2021-09-06

Can rest for 1 night at Wallstreet

Is the U.S. stock market open on Labor Day?<blockquote>美国股市在劳动节开市吗？</blockquote>

2021-09-03

Stock will rise end of year

抱歉，原内容已删除

2021-09-02

Great news for fastly

抱歉，原内容已删除

2021-08-31

Record high after record high but my portfolio is still in red

抱歉，原内容已删除

2021-08-30

Reluctant to buy as the min lot can be crazy

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2021-08-28

Looking to see how well it will do

Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>

2021-08-27

Happy seeing my Mara up

Crypto stocks surged in morning trading<blockquote>加密货币股票在早盘交易中飙升</blockquote>

2021-08-25

Need more green days like this

抱歉，原内容已删除

2021-08-24

Salesforce is good

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up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864204354","repostId":"1141318761","repostType":4,"repost":{"id":"1141318761","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633077433,"share":"https://www.laohunote.com/m/news/1141318761?lang=zh_CN&edition=full","pubTime":"2021-10-01 16:37","market":"us","language":"en","title":"S&P500 futures drop  0.6% after S&P500 posts first monthly decline since January<blockquote>标准普尔 500 指数自 1 月份以来首次月度下跌，标准普尔 500 指数期货下跌 0.6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141318761","media":"Tiger Newspress","summary":"US stock futures fell in early pre-market trading on Friday after the S&P500 suffered worst month si","content":"<p>US&nbsp;stock&nbsp;futures&nbsp;fell&nbsp;in&nbsp;early&nbsp;pre-market&nbsp;trading&nbsp;on&nbsp;Friday&nbsp;after&nbsp;the&nbsp;S&amp;P500&nbsp;suffered&nbsp;worst&nbsp;month&nbsp;since&nbsp;March&nbsp;2020</p><p><blockquote>标准普尔 500 指数遭遇 2020 年 3 月以来最糟糕的一个月后，美国股指期货周五早盘下跌</blockquote></p><p> Dow futures&nbsp;dropped 230 points. S&amp;P 500 futures and Nasdaq 100 futures both traded in negative territory and pointed to opening losses.</p><p><blockquote>道琼斯期货下跌230点。标普500期货和纳斯达克100期货均处于负值区域，并指出开盘亏损。</blockquote></p><p> The market just capped a tumultuous September as inflation fears, slowing growth and rising rates crept up. The S&amp;P 500 finished the month down 4.8%, breaking a seven-month winning streak. The Dow and the Nasdaq Composite fell 4.3% and 5.3%, respectively, suffering their worst months of the year.</p><p><blockquote>随着通胀担忧、增长放缓和利率上升，市场刚刚结束了动荡的九月。标普500本月收盘下跌 4.8%，打破了七个月的连胜纪录。道琼斯指数和纳斯达克综合指数分别下跌 4.3% 和 5.3%，遭遇今年最糟糕的几个月。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ec1912e956c7fb0d2503b74f23ce7f0\" tg-width=\"1125\" tg-height=\"423\" referrerpolicy=\"no-referrer\">Ten of the 11 S&amp;P 500 sectors suffered losses in September, led to the downside by a 7.4% monthly drop in materials stocks. Energy is the best performer of the month, gaining more than 9%.</p><p><blockquote>标普500 11 个板块中有 10 个板块在 9 月份出现亏损，导致材料股月度下跌 7.4%。能源是本月表现最好的股票，涨幅超过9%。</blockquote></p><p> Investors await key inflation data due Friday 8:30est,&nbsp;to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.</p><p><blockquote>投资者正在等待美国东部时间周五 8:30 公布的关键通胀数据，以衡量经济从疫情中复苏时的价格压力状况。道琼斯调查的经济学家表示，美联储用来制定政策的通胀指标核心个人消费支出价格指数预计将在8月份上涨0.2%，同比上涨3.5%。</blockquote></p><p> The inflation measure jumped 3.6% year over year in July, which hit the highest level since May 1991.</p><p><blockquote>7月份通胀指标同比跃升3.6%，达到1991年5月以来的最高水平。</blockquote></p><p> “As we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.</p><p><blockquote>“E-Trade Financial 投资策略董事总经理 Mike Loewengart 表示：”随着第三季度的结束和展望未来，随着经济复苏继续曲折，投资者可能需要保持灵活性。</blockquote></p><p> Congress was poised to prevent a government shutdown Thursday. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3 and sent it to President Joe Biden to sign.</p><p><blockquote>国会准备在周四阻止政府关门。参议院和众议院都通过了一项短期拨款法案，该法案将使政府运转到12月3日，并将其送交乔·拜登总统签署。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P500 futures drop  0.6% after S&P500 posts first monthly decline since January<blockquote>标准普尔 500 指数自 1 月份以来首次月度下跌，标准普尔 500 指数期货下跌 0.6%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P500 futures drop  0.6% after S&P500 posts first monthly decline since January<blockquote>标准普尔 500 指数自 1 月份以来首次月度下跌，标准普尔 500 指数期货下跌 0.6%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-01 16:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>US&nbsp;stock&nbsp;futures&nbsp;fell&nbsp;in&nbsp;early&nbsp;pre-market&nbsp;trading&nbsp;on&nbsp;Friday&nbsp;after&nbsp;the&nbsp;S&amp;P500&nbsp;suffered&nbsp;worst&nbsp;month&nbsp;since&nbsp;March&nbsp;2020</p><p><blockquote>标准普尔 500 指数遭遇 2020 年 3 月以来最糟糕的一个月后，美国股指期货周五早盘下跌</blockquote></p><p> Dow futures&nbsp;dropped 230 points. S&amp;P 500 futures and Nasdaq 100 futures both traded in negative territory and pointed to opening losses.</p><p><blockquote>道琼斯期货下跌230点。标普500期货和纳斯达克100期货均处于负值区域，并指出开盘亏损。</blockquote></p><p> The market just capped a tumultuous September as inflation fears, slowing growth and rising rates crept up. The S&amp;P 500 finished the month down 4.8%, breaking a seven-month winning streak. The Dow and the Nasdaq Composite fell 4.3% and 5.3%, respectively, suffering their worst months of the year.</p><p><blockquote>随着通胀担忧、增长放缓和利率上升，市场刚刚结束了动荡的九月。标普500本月收盘下跌 4.8%，打破了七个月的连胜纪录。道琼斯指数和纳斯达克综合指数分别下跌 4.3% 和 5.3%，遭遇今年最糟糕的几个月。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ec1912e956c7fb0d2503b74f23ce7f0\" tg-width=\"1125\" tg-height=\"423\" referrerpolicy=\"no-referrer\">Ten of the 11 S&amp;P 500 sectors suffered losses in September, led to the downside by a 7.4% monthly drop in materials stocks. Energy is the best performer of the month, gaining more than 9%.</p><p><blockquote>标普500 11 个板块中有 10 个板块在 9 月份出现亏损，导致材料股月度下跌 7.4%。能源是本月表现最好的股票，涨幅超过9%。</blockquote></p><p> Investors await key inflation data due Friday 8:30est,&nbsp;to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.</p><p><blockquote>投资者正在等待美国东部时间周五 8:30 公布的关键通胀数据，以衡量经济从疫情中复苏时的价格压力状况。道琼斯调查的经济学家表示，美联储用来制定政策的通胀指标核心个人消费支出价格指数预计将在8月份上涨0.2%，同比上涨3.5%。</blockquote></p><p> The inflation measure jumped 3.6% year over year in July, which hit the highest level since May 1991.</p><p><blockquote>7月份通胀指标同比跃升3.6%，达到1991年5月以来的最高水平。</blockquote></p><p> “As we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.</p><p><blockquote>“E-Trade Financial 投资策略董事总经理 Mike Loewengart 表示：”随着第三季度的结束和展望未来，随着经济复苏继续曲折，投资者可能需要保持灵活性。</blockquote></p><p> Congress was poised to prevent a government shutdown Thursday. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3 and sent it to President Joe Biden to sign.</p><p><blockquote>国会准备在周四阻止政府关门。参议院和众议院都通过了一项短期拨款法案，该法案将使政府运转到12月3日，并将其送交乔·拜登总统签署。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141318761","content_text":"US stock futures fell in early pre-market trading on Friday after the S&P500 suffered worst month since March 2020\nDow futures dropped 230 points. S&P 500 futures and Nasdaq 100 futures both traded in negative territory and pointed to opening losses.\nThe market just capped a tumultuous September as inflation fears, slowing growth and rising rates crept up. The S&P 500 finished the month down 4.8%, breaking a seven-month winning streak. The Dow and the Nasdaq Composite fell 4.3% and 5.3%, respectively, suffering their worst months of the year.\nTen of the 11 S&P 500 sectors suffered losses in September, led to the downside by a 7.4% monthly drop in materials stocks. Energy is the best performer of the month, gaining more than 9%.\nInvestors await key inflation data due Friday 8:30est, to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.\nThe inflation measure jumped 3.6% year over year in July, which hit the highest level since May 1991.\n“As we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.\nCongress was poised to prevent a government shutdown Thursday. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3 and sent it to President Joe Biden to sign.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862230953,"gmtCreate":1632880059708,"gmtModify":1632880060527,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/862230953","repostId":"1106892312","repostType":4,"repost":{"id":"1106892312","kind":"news","pubTimestamp":1632870830,"share":"https://www.laohunote.com/m/news/1106892312?lang=zh_CN&edition=full","pubTime":"2021-09-29 07:13","market":"us","language":"en","title":"These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些 2021 年飞涨的股票周二跌幅最大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106892312","media":"marketwatch","summary":"Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.\n\nThe Federal","content":"<p>  <b>Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.</b>  The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.</p><p><blockquote><b>遭受重创的股票包括 Moderna、Nvidia 和谷歌控股公司Alphabet。</b>美联储发出的政策变化信号正在产生可预见的效果--随着债券收益率变得更具吸引力，推动股价走低。</blockquote></p><p> This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.</p><p><blockquote>这逆转了美国股市的一些非常强劲的走势——至少在一天内是这样。以下是截至 9 月 27 日在 2021 年上涨至少 50%，但在 9 月 28 日回调幅度最大的 10 只股票列表。</blockquote></p><p> The Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&amp;P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.</p><p><blockquote>道琼斯工业平均指数下跌 1.6%，标普500指数 SPX 下跌 2%。纳斯达克综合指数表现最差，下跌 2.8%。</blockquote></p><p> The yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.</p><p><blockquote>10年期美国国债BX:TMUBMUSD10YIN收益率上升5个基点至1.55%。这比一周前的 1.33% 有所上升。</blockquote></p><p> Combined, there are 523 stocks in the S&amp;P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:</p><p><blockquote>标普500和纳斯达克-100NDXIN指数合计有523只股票。FactSet 提供的数据显示，截至 9 月 27 日，其中 50 只股票在 2021 年迄今为止（不包括股息）上涨了至少 50%。以下是 9 月 28 日跌幅最大的 10 只股票，实际上是 11 只股票，其中包括Alphabet公司的两个普通股类别：GOOGLGOOGare：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e62aed3304cd811cf41ce390e38c41c\" tg-width=\"1106\" tg-height=\"713\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/83133c4cfdb3554d40f750a60c91892c\" tg-width=\"1101\" tg-height=\"291\" width=\"100%\" height=\"auto\">Click the tickers for more about each company. Clickhere&nbsp;for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote>单击股票代码了解有关每家公司的更多信息。点击此处查看 Tomi Kilgore 在报价页面上免费提供的丰富信息的详细指南。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些 2021 年飞涨的股票周二跌幅最大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些 2021 年飞涨的股票周二跌幅最大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-09-29 07:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.</b>  The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.</p><p><blockquote><b>遭受重创的股票包括 Moderna、Nvidia 和谷歌控股公司Alphabet。</b>美联储发出的政策变化信号正在产生可预见的效果--随着债券收益率变得更具吸引力，推动股价走低。</blockquote></p><p> This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.</p><p><blockquote>这逆转了美国股市的一些非常强劲的走势——至少在一天内是这样。以下是截至 9 月 27 日在 2021 年上涨至少 50%，但在 9 月 28 日回调幅度最大的 10 只股票列表。</blockquote></p><p> The Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&amp;P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.</p><p><blockquote>道琼斯工业平均指数下跌 1.6%，标普500指数 SPX 下跌 2%。纳斯达克综合指数表现最差，下跌 2.8%。</blockquote></p><p> The yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.</p><p><blockquote>10年期美国国债BX:TMUBMUSD10YIN收益率上升5个基点至1.55%。这比一周前的 1.33% 有所上升。</blockquote></p><p> Combined, there are 523 stocks in the S&amp;P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:</p><p><blockquote>标普500和纳斯达克-100NDXIN指数合计有523只股票。FactSet 提供的数据显示，截至 9 月 27 日，其中 50 只股票在 2021 年迄今为止（不包括股息）上涨了至少 50%。以下是 9 月 28 日跌幅最大的 10 只股票，实际上是 11 只股票，其中包括Alphabet公司的两个普通股类别：GOOGLGOOGare：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e62aed3304cd811cf41ce390e38c41c\" tg-width=\"1106\" tg-height=\"713\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/83133c4cfdb3554d40f750a60c91892c\" tg-width=\"1101\" tg-height=\"291\" width=\"100%\" height=\"auto\">Click the tickers for more about each company. Clickhere&nbsp;for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote>单击股票代码了解有关每家公司的更多信息。点击此处查看 Tomi Kilgore 在报价页面上免费提供的丰富信息的详细指南。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/these-high-flying-stocks-of-2021-have-dropped-the-most-today-11632846406?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/these-high-flying-stocks-of-2021-have-dropped-the-most-today-11632846406?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106892312","content_text":"Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.\n\nThe Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.\nThis reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.\nThe Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.\nThe yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.\nCombined, there are 523 stocks in the S&P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:\nClick the tickers for more about each company. Clickhere for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2872,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866316024,"gmtCreate":1632733838368,"gmtModify":1632798226712,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Done","listText":"Done","text":"Done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866316024","repostId":"1128485442","repostType":4,"repost":{"id":"1128485442","kind":"news","pubTimestamp":1632729714,"share":"https://www.laohunote.com/m/news/1128485442?lang=zh_CN&edition=full","pubTime":"2021-09-27 16:01","market":"us","language":"en","title":"Tesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试版按钮”上线了。这对股票意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128485442","media":"Barrons","summary":"Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car o","content":"<p>Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car owners. Regulators aren’t happy.</p><p><blockquote>特斯拉周五发布了 “测试版”按钮，为车主带来了新的自动驾驶体验。监管机构并不高兴。</blockquote></p><p> With the “beta button,” Tesla (ticker: TSLA) owners can now request the most sophisticated version of Tesla’s autonomous-driving software, dubbed Full Self Driving, or FSD, with the press of a finger. The button went live on Friday.</p><p><blockquote>有了 “测试版按钮 ”，特斯拉（股票代码：TSLA）车主现在只需按一下手指，就可以请求特斯拉最先进版本的自动驾驶软件，即全自动驾驶（FSD）。该按钮于周五上线。</blockquote></p><p> Tesla’s new system will do things such as make left turns for the driver. Tesla has let some drivers test the system before now. Many videos from testers that review the capabilities—and issues—with the system are available on YouTube. </p><p><blockquote>特斯拉的新系统将为驾驶员做左转等事情。特斯拉已经让一些司机测试了该系统。YouTube 上有许多来自测试人员的视频，回顾了该系统的功能和问题。</blockquote></p><p> Just hitting the button isn’t all Tesla drivers have to do. The button doesn’t grant access to the new version automatically. Tesla judges driving behavior for a week before the upgrade is activated.</p><p><blockquote>特斯拉车手们要做的不仅仅是按下按钮。该按钮不会自动授予对新版本的访问权限。在激活升级之前，特斯拉会对驾驶行为进行一周的判断。</blockquote></p><p> Regulators have expressed nervousness about the launch and calling a safety feature a “beta” version. But beyond that, nothing much has happened. Investors can expect more to happen in coming weeks, including videos, tweets, and stories about Tesla’s full self-driving software and what regulators are thinking about it.</p><p><blockquote>监管机构对此次发布表示紧张，并称安全功能为 “测试版 ”。但除此之外，没有发生太多事情。投资者可以期待未来几周发生更多事情，包括有关特斯拉全自动驾驶软件的视频、推文和故事，以及监管机构对该软件的看法。</blockquote></p><p> Tesla hasn’t responded to multiple requests for comment about FSD, but the company has said in many public forums that it believes FSD software makes its vehicles safer to drive.</p><p><blockquote>特斯拉尚未回应有关 FSD 的多次置评请求，但该公司在许多公共论坛上表示，它相信 FSD 软件能让其车辆驾驶更安全。</blockquote></p><p> Tesla FSD is a so-called Level 2 autonomous-driving system. Level 2 means drivers need to watch the road at all times. The new version is the same kind of system. It makes driving easier and more convenient, but there are no systems that allow drivers to stop paying attention to driving altogether. That’s what Tesla, and the rest of the auto industry, wants to achieve years down the road.</p><p><blockquote>特斯拉FSD是所谓的2级自动驾驶系统。2级意味着驾驶员需要时刻观察道路。新版本是同一种系统。它让驾驶变得更容易、更方便，但没有任何系统可以让驾驶员完全停止关注驾驶。这就是特斯拉和汽车行业其他公司希望在未来几年实现的目标。</blockquote></p><p> Tesla stock, for its part, is at its highest level in months. Shares closed up 2.8% at $774.49 on Friday, and are now up about 10% in 2021, trailing just behind comparable gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average. But all those gains have come recently. Tesla stock is up 15% over the past three months.</p><p><blockquote>特斯拉股价则处于几个月来的最高水平。周五股价收盘上涨 2.8%，至 774.49 美元，目前 2021 年上涨约 10%，仅落后于标普500和道琼斯工业平均指数的可比涨幅。但所有这些收益都是最近才出现的。过去三个月，特斯拉股价上涨了 15%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试版按钮”上线了。这对股票意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试版按钮”上线了。这对股票意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-27 16:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car owners. Regulators aren’t happy.</p><p><blockquote>特斯拉周五发布了 “测试版”按钮，为车主带来了新的自动驾驶体验。监管机构并不高兴。</blockquote></p><p> With the “beta button,” Tesla (ticker: TSLA) owners can now request the most sophisticated version of Tesla’s autonomous-driving software, dubbed Full Self Driving, or FSD, with the press of a finger. The button went live on Friday.</p><p><blockquote>有了 “测试版按钮 ”，特斯拉（股票代码：TSLA）车主现在只需按一下手指，就可以请求特斯拉最先进版本的自动驾驶软件，即全自动驾驶（FSD）。该按钮于周五上线。</blockquote></p><p> Tesla’s new system will do things such as make left turns for the driver. Tesla has let some drivers test the system before now. Many videos from testers that review the capabilities—and issues—with the system are available on YouTube. </p><p><blockquote>特斯拉的新系统将为驾驶员做左转等事情。特斯拉已经让一些司机测试了该系统。YouTube 上有许多来自测试人员的视频，回顾了该系统的功能和问题。</blockquote></p><p> Just hitting the button isn’t all Tesla drivers have to do. The button doesn’t grant access to the new version automatically. Tesla judges driving behavior for a week before the upgrade is activated.</p><p><blockquote>特斯拉车手们要做的不仅仅是按下按钮。该按钮不会自动授予对新版本的访问权限。在激活升级之前，特斯拉会对驾驶行为进行一周的判断。</blockquote></p><p> Regulators have expressed nervousness about the launch and calling a safety feature a “beta” version. But beyond that, nothing much has happened. Investors can expect more to happen in coming weeks, including videos, tweets, and stories about Tesla’s full self-driving software and what regulators are thinking about it.</p><p><blockquote>监管机构对此次发布表示紧张，并称安全功能为 “测试版 ”。但除此之外，没有发生太多事情。投资者可以期待未来几周发生更多事情，包括有关特斯拉全自动驾驶软件的视频、推文和故事，以及监管机构对该软件的看法。</blockquote></p><p> Tesla hasn’t responded to multiple requests for comment about FSD, but the company has said in many public forums that it believes FSD software makes its vehicles safer to drive.</p><p><blockquote>特斯拉尚未回应有关 FSD 的多次置评请求，但该公司在许多公共论坛上表示，它相信 FSD 软件能让其车辆驾驶更安全。</blockquote></p><p> Tesla FSD is a so-called Level 2 autonomous-driving system. Level 2 means drivers need to watch the road at all times. The new version is the same kind of system. It makes driving easier and more convenient, but there are no systems that allow drivers to stop paying attention to driving altogether. That’s what Tesla, and the rest of the auto industry, wants to achieve years down the road.</p><p><blockquote>特斯拉FSD是所谓的2级自动驾驶系统。2级意味着驾驶员需要时刻观察道路。新版本是同一种系统。它让驾驶变得更容易、更方便，但没有任何系统可以让驾驶员完全停止关注驾驶。这就是特斯拉和汽车行业其他公司希望在未来几年实现的目标。</blockquote></p><p> Tesla stock, for its part, is at its highest level in months. Shares closed up 2.8% at $774.49 on Friday, and are now up about 10% in 2021, trailing just behind comparable gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average. But all those gains have come recently. Tesla stock is up 15% over the past three months.</p><p><blockquote>特斯拉股价则处于几个月来的最高水平。周五股价收盘上涨 2.8%，至 774.49 美元，目前 2021 年上涨约 10%，仅落后于标普500和道琼斯工业平均指数的可比涨幅。但所有这些收益都是最近才出现的。过去三个月，特斯拉股价上涨了 15%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-autonomous-driving-beta-button-51632583470?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-autonomous-driving-beta-button-51632583470?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128485442","content_text":"Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car owners. Regulators aren’t happy.\nWith the “beta button,” Tesla (ticker: TSLA) owners can now request the most sophisticated version of Tesla’s autonomous-driving software, dubbed Full Self Driving, or FSD, with the press of a finger. The button went live on Friday.\n\nTesla’s new system will do things such as make left turns for the driver. Tesla has let some drivers test the system before now. Many videos from testers that review the capabilities—and issues—with the system are available on YouTube. \n\nJust hitting the button isn’t all Tesla drivers have to do. The button doesn’t grant access to the new version automatically. Tesla judges driving behavior for a week before the upgrade is activated.\n\nRegulators have expressed nervousness about the launch and calling a safety feature a “beta” version. But beyond that, nothing much has happened. Investors can expect more to happen in coming weeks, including videos, tweets, and stories about Tesla’s full self-driving software and what regulators are thinking about it.\nTesla hasn’t responded to multiple requests for comment about FSD, but the company has said in many public forums that it believes FSD software makes its vehicles safer to drive.\nTesla FSD is a so-called Level 2 autonomous-driving system. Level 2 means drivers need to watch the road at all times. The new version is the same kind of system. It makes driving easier and more convenient, but there are no systems that allow drivers to stop paying attention to driving altogether. That’s what Tesla, and the rest of the auto industry, wants to achieve years down the road.\n\nTesla stock, for its part, is at its highest level in months. Shares closed up 2.8% at $774.49 on Friday, and are now up about 10% in 2021, trailing just behind comparable gains of the S&P 500 and Dow Jones Industrial Average. But all those gains have come recently. Tesla stock is up 15% over the past three months.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868060512,"gmtCreate":1632552953336,"gmtModify":1632658128749,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Lets see how price will react next week","listText":"Lets see how price will react next week","text":"Lets see how price will react next week","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/868060512","repostId":"2170611559","repostType":4,"isVote":1,"tweetType":1,"viewCount":4165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861149819,"gmtCreate":1632474529831,"gmtModify":1632720389086,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Tsla will be 3x in 5 years time&nbsp;","listText":"Tsla will be 3x in 5 years time&nbsp;","text":"Tsla will be 3x in 5 years time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861149819","repostId":"1164314212","repostType":4,"repost":{"id":"1164314212","kind":"news","pubTimestamp":1632467545,"share":"https://www.laohunote.com/m/news/1164314212?lang=zh_CN&edition=full","pubTime":"2021-09-24 15:12","market":"us","language":"en","title":"SFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA 在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164314212","media":"Benzinga","summary":"The San Francisco County Transportation Authority has raised concerns about the safety record of Tes","content":"<p><div> The San Francisco County Transportation Authority has raised concerns about the safety record of Tesla Inc’s advanced driver assistant system just ahead of a wide beta release of the autonomous ...</p><p><blockquote><div>旧金山县交通管理局对特斯拉公司的高级驾驶辅助系统的安全记录表示担忧，就在自动驾驶辅助系统广泛发布测试版之前。</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA 在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA 在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-09-24 15:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The San Francisco County Transportation Authority has raised concerns about the safety record of Tesla Inc’s advanced driver assistant system just ahead of a wide beta release of the autonomous ...</p><p><blockquote><div>旧金山县交通管理局对特斯拉公司的高级驾驶辅助系统的安全记录表示担忧，就在自动驾驶辅助系统广泛发布测试版之前。</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164314212","content_text":"The San Francisco County Transportation Authority has raised concerns about the safety record of Tesla Inc’s advanced driver assistant system just ahead of a wide beta release of the autonomous software system, Reuters reported on Thursday.\nWhat Happened:Besides raising concerts on the safety record, the transport authority has disputed the name \"Full Self-Driving\" (FSD), which it says is an advanced driver assistance program, not an autonomous vehicle system.\nThe agency’s Executive Director Tilly Chang told Reuters that a human driver should \"continuously monitor\" Tesla's FSD system and the name of the service could be confusing for consumers. Chang added that she hoped \"DMV, FTC and NHTSA continue to monitor and analyze this issue to protect consumers and the traveling public.\"\nSFCTA manages the funding for transit and roadway projects in San Francisco.\nWhy It Matters:The Palo Alto, California-based electric vehicle maker Tesla has been under increased regulatory scrutiny this year after a number of crashes that are now under federal investigation. The Elon Musk-led company is also close to unveiling a wide release of a test version of the FSD software that works on city streets and highways.\nTesla has rolled its FSD Beta program out to an army of testers who have shown the car can make impressive moves, such as dodging a deer on dirt roads.\nPrice Action:Tesla stock closed 0.23% higher at $753.65 a share on Thursday.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860477345,"gmtCreate":1632206126087,"gmtModify":1632802068110,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Apple still a good stock for long term hold","listText":"Apple still a good stock for long term hold","text":"Apple still a good stock for long term hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/860477345","repostId":"1147257083","repostType":4,"isVote":1,"tweetType":1,"viewCount":3364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887838696,"gmtCreate":1632015553015,"gmtModify":1632803350972,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Get ready!","listText":"Get ready!","text":"Get ready!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887838696","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohunote.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国 IPO 周即将到来：软件、消费品和支付技术引领多元化的 IPO 周 14</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏天可能已经过去，但 IPO 市场正在升温，未来一周将有 14 家 IPO 筹集 53 亿美元。多元化的群体包括软件、消费产品、支付技术等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>新鲜作品</b>(FRSH) 计划以 96 亿美元的市值筹集 8.55 亿美元。该公司的核心产品是客户支持软件，同时还提供 IT 服务管理软件和 CRM 解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出而增加，但截至2021年6月30日，Freshworks实现了稳健的增长，并保留了100%以上的净美元收入。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿开发</b>（KDC）计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种不同类别的产品，其产品由其品牌合作伙伴在70多个国家销售。尽管使用发行收益来偿还债务，诺尔顿在首次公开募股后仍将受到杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST) 计划以 179 亿美元的市值筹集 6.85 亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在 2021 年上半年的 ARR 增长超过 100%，但历史上一直没有盈利，而且随着餐馆重新开业带来的利好减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>汇款全球</b>（RELY）计划以75亿美元的市值筹集4.87亿美元。Remitly 为超过 135 个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球 1,700 多个走廊。该公司表现出增长和利润率的改善，尽管它仍然没有盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN) 计划以 37 亿美元的市值筹集 4.5 亿美元。Clearwater为其1,000多个客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在首次公开募股中购买价值 1.5 亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>Sovos品牌</b>（SOVO）计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International成立，提供一系列精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s在意大利面和披萨酱类别中排名第一。Sovos 盈利且增长稳健，将在 IPO 后发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT) 计划以 41 亿美元的市值筹集 3.49 亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性的客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER) 计划以 21 亿美元的市值筹集 3 亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。该公司为超过 50% 的财富 100 强企业提供服务，通常签订独家合同，尽管它在竞争激烈的市场中运营。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT) 计划以 14 亿美元筹集 2.5 亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过37万名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>在线时尚平台<b>又名品牌</b>(AKA) 计划以 23 亿美元的市值筹集 2.5 亿美元。a.k.a.收购面向千禧一代和Z世代消费者的专注于数字的时尚品牌，从2018年收购Princess Polly开始。该公司已成功扩张 Princess Polly，并在美国发展其品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>线索健康</b>(HLTH) 计划以 24 亿美元的市值筹集 2 亿美元。Cue 首个用于 Cue 健康监测系统的商业化诊断测试是其 COVID-19 检测试剂盒，该试剂盒已获得两个 EUA 的授权。Cue 还有五个额外的测试试剂盒处于后期技术开发阶段，预计将在 2022 年下半年开始寻求 FDA 的授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市加密货币挖矿公司<b>Argo区块链</b>(ARBK) 计划以 8.55 亿美元的市值筹集 1.38 亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo 拥有超过 21,000 台专用计算机（采矿机），每秒可生成超过 1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN) 计划以 8.92 亿美元的市值筹集 1.26 亿美元。公司的垂直整合品牌 Thorne 和 Onegevity 提供可操作的见解和个性化数据、产品和服务。盈利且增长强劲，索恩拥有超过 300 万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>（VBNK）计划以2.69亿美元的市值筹集5000万美元。VersaBank是一家加拿大附表I特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元的资产、16亿美元的贷款、15亿美元的存款和2.02亿美元的股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国 IPO 周即将到来：软件、消费品和支付技术引领多元化的 IPO 周 14</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国 IPO 周即将到来：软件、消费品和支付技术引领多元化的 IPO 周 14</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏天可能已经过去，但 IPO 市场正在升温，未来一周将有 14 家 IPO 筹集 53 亿美元。多元化的群体包括软件、消费产品、支付技术等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>新鲜作品</b>(FRSH) 计划以 96 亿美元的市值筹集 8.55 亿美元。该公司的核心产品是客户支持软件，同时还提供 IT 服务管理软件和 CRM 解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出而增加，但截至2021年6月30日，Freshworks实现了稳健的增长，并保留了100%以上的净美元收入。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿开发</b>（KDC）计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种不同类别的产品，其产品由其品牌合作伙伴在70多个国家销售。尽管使用发行收益来偿还债务，诺尔顿在首次公开募股后仍将受到杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST) 计划以 179 亿美元的市值筹集 6.85 亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在 2021 年上半年的 ARR 增长超过 100%，但历史上一直没有盈利，而且随着餐馆重新开业带来的利好减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>汇款全球</b>（RELY）计划以75亿美元的市值筹集4.87亿美元。Remitly 为超过 135 个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球 1,700 多个走廊。该公司表现出增长和利润率的改善，尽管它仍然没有盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN) 计划以 37 亿美元的市值筹集 4.5 亿美元。Clearwater为其1,000多个客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在首次公开募股中购买价值 1.5 亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>Sovos品牌</b>（SOVO）计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International成立，提供一系列精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s在意大利面和披萨酱类别中排名第一。Sovos 盈利且增长稳健，将在 IPO 后发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT) 计划以 41 亿美元的市值筹集 3.49 亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性的客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER) 计划以 21 亿美元的市值筹集 3 亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。该公司为超过 50% 的财富 100 强企业提供服务，通常签订独家合同，尽管它在竞争激烈的市场中运营。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT) 计划以 14 亿美元筹集 2.5 亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过37万名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>在线时尚平台<b>又名品牌</b>(AKA) 计划以 23 亿美元的市值筹集 2.5 亿美元。a.k.a.收购面向千禧一代和Z世代消费者的专注于数字的时尚品牌，从2018年收购Princess Polly开始。该公司已成功扩张 Princess Polly，并在美国发展其品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>线索健康</b>(HLTH) 计划以 24 亿美元的市值筹集 2 亿美元。Cue 首个用于 Cue 健康监测系统的商业化诊断测试是其 COVID-19 检测试剂盒，该试剂盒已获得两个 EUA 的授权。Cue 还有五个额外的测试试剂盒处于后期技术开发阶段，预计将在 2022 年下半年开始寻求 FDA 的授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市加密货币挖矿公司<b>Argo区块链</b>(ARBK) 计划以 8.55 亿美元的市值筹集 1.38 亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo 拥有超过 21,000 台专用计算机（采矿机），每秒可生成超过 1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN) 计划以 8.92 亿美元的市值筹集 1.26 亿美元。公司的垂直整合品牌 Thorne 和 Onegevity 提供可操作的见解和个性化数据、产品和服务。盈利且增长强劲，索恩拥有超过 300 万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>（VBNK）计划以2.69亿美元的市值筹集5000万美元。VersaBank是一家加拿大附表I特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元的资产、16亿美元的贷款、15亿美元的存款和2.02亿美元的股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARBK":"Argo Blockchain Plc","FRSH":"Freshworks","BRLT":"Brilliant Earth Group, Inc.","SOVO":"Sovos Brands, Inc.","TOST":"Toast, Inc.","RELY":"Remitly Global, Inc.","CWAN":"Clearwater Analytics Holdings, Inc.","AKA":"a.k.a. Brands Holding Corp.","HLTH":"TEMA HEALTHCARE AI ETF"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"FRSH":0.9,"STER":0.9,"THRN":0.9,"ARBK":0.9,"BRLT":0.9,"KDC":0.9,"SOVO":0.9,"AKA":0.9,"TOST":0.9,"RELY":0.9,"ESMT":0.9,"CWAN":0.9,"HLTH":0.9}},"isVote":1,"tweetType":1,"viewCount":3462,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888681673,"gmtCreate":1631493437292,"gmtModify":1631887249710,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Need go be prepared for this","listText":"Need go be prepared for this","text":"Need go be prepared for this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/888681673","repostId":"1190225456","repostType":4,"repost":{"id":"1190225456","kind":"news","pubTimestamp":1631492039,"share":"https://www.laohunote.com/m/news/1190225456?lang=zh_CN&edition=full","pubTime":"2021-09-13 08:13","market":"us","language":"en","title":"U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临秋季坎坷的风险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190225456","media":"WSJ","summary":"After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are ","content":"<p>After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.</p><p><blockquote>在美国股市今年创纪录的牛市之后，许多华尔街分析师开始警告称，投资者在未来几周和几个月内可能会经历一段坎坷的旅程。</blockquote></p><p> Analysts at firms including Morgan Stanley, Citigroup Inc., Deutsche Bank AG and Bank of America Corp. published notes this month cautioning about current risks in the U.S. equity market. With the S&amp;P 500 already hitting 54 records this year through Thursday—the most during that period since 1995—several analysts said that they believe there is a growing possibility of a pullback or, at the least, flatter returns.</p><p><blockquote>摩根士丹利、花旗集团、德意志银行和美国银行等公司的分析师本月发布报告，对美国股市当前的风险发出警告。截至周四，标普500今年已创下 54 项纪录，为 1995 年以来同期最高纪录，几位分析师表示，他们认为回调或至少回报变平的可能性越来越大。</blockquote></p><p> Behind that cautious outlook, the researchers said, is a combination of things, including&nbsp;euphoric investment sentiment, extended valuations and anticipation that inflation and supply-chain disruptions will weigh on corporate margins.</p><p><blockquote>研究人员表示，这种谨慎的前景背后是多种因素的结合，包括乐观的投资情绪、扩大的估值以及通胀和供应链中断将拖累企业利润率的预期。</blockquote></p><p> In a Wednesday note, strategists at BofA Securities said they saw little to be excited about, asking, “What good news is left?” They added, “A lot of optimism is already priced in.”</p><p><blockquote>美国银行证券（BofA Securities）的策略师在周三的一份报告中表示，他们看不到什么值得兴奋的，并问道：“还剩下什么好消息？”他们补充说：“很多乐观情绪已经被消化了。”</blockquote></p><p> In the note, the Bank of America team led by Savita Subramanian, head of U.S. equity and quantitative strategy, moved its year-end price target for the S&amp;P 500 price to 4250—a 4.7% reduction from the 4458.58 level at which the benchmark index closed Friday. For 2022, Bank of America set a 4600 price target for the end of the year.</p><p><blockquote>在这份报告中，由美国股票和量化策略主管萨维塔·苏布拉马尼亚 (Savita Subramanian) 领导的美国银行团队将标普500价格的年终目标价上调至 4250 点，较基准指数周五收盘价的 4458.58 点下降了 4.7%。对于2022年，美国银行设定了年底4600的目标价。</blockquote></p><p> The analysts’ cautious outlook for U.S. stocks presents a contrast to the so-called TINA—or “There Is No Alternative”—motto that has dominated investors’ outlook for much of the past year. Because yields on other assets such as bonds have been so low, many investors have justified their continuous bullish positioning in stocks.Accommodative monetary policy&nbsp;from the Federal Reserve has provided a continuous boost for equities this year, too, as has the lure of big investment returns from a swath of companies, ranging from&nbsp;meme stocks&nbsp;to&nbsp;Covid-19 beneficiaries.</p><p><blockquote>分析师对美国股市的谨慎前景与过去一年大部分时间主导投资者前景的所谓 TINA（或 “别无选择 ”）座右铭形成了鲜明对比。由于债券等其他资产的收益率一直很低，许多投资者证明了他们持续看涨股票的合理性。美联储的宽松货币政策也为今年的股市提供了持续提振，以及大量公司的巨额投资回报的诱惑，从模因股票到 Covid-19 受益者。</blockquote></p><p> In their September notes, however, some strategists said they were looking at other parts of the market for future gains. In a note last week, Morgan Stanley strategists wrote that they were downgrading their rating on U.S. equities to “underweight,” saying they prefer stocks in Europe and Japan and view cash as increasingly attractive to hold.</p><p><blockquote>然而，一些策略师在 9 月份的报告中表示，他们正在关注市场其他部分的未来涨幅。摩根士丹利策略师在上周的一份报告中写道，他们将美国股市的评级下调至 “跑输大盘”，称他们更喜欢欧洲和日本的股票，并认为持有现金越来越有吸引力。</blockquote></p><p> “We expect an understandable level of eye-rolling as we move overweight cash,” the Morgan Stanley team including Andrew Sheets wrote in the note, adding the caveat that select international equities and other assets are attractive relative to cash. The note continued, “Morgan Stanley strategists forecast cash to outperform U.S. equities, government bonds and credit over the next 12 months.”</p><p><blockquote>“包括 Andrew Sheets 在内的摩根士丹利团队在报告中写道：”我们预计，在转移跑赢大盘现金时，会出现可以理解的白眼现象，并补充说，相对于现金而言，部分国际股票和其他资产具有吸引力。报告继续说道：“摩根士丹利策略师预测，未来 12 个月，现金将跑赢美国股票、政府债券和信贷。”</blockquote></p><p> Parts of Morgan Stanley’s forecast are being put to work at New York Life Investments, the investment arm of New York Life Insurance Co. with more than $600 billion in assets under management.</p><p><blockquote>摩根士丹利的部分预测正在纽约人寿保险公司（New York Life Investments）实施，该公司是纽约人寿保险公司（New York Life Insurance Co.</blockquote></p><p> In its investment portfolio, the firm currently has an overweight position in international developed equity. Lauren Goodwin, an economist and portfolio strategist at New York Life Investments, said there has been more economic upside in Europe and Canada—two areas in which the firm has increased its investments.</p><p><blockquote>在其投资组合中，该公司目前在国际发达股票中拥有跑赢大盘头寸。纽约人寿投资公司 (New York Life Investments) 经济学家兼投资组合策略师劳伦·古德温 (Lauren Goodwin) 表示，欧洲和加拿大的经济上升空间更大，该公司已增加了投资这两个地区。</blockquote></p><p> Domestically, Ms. Goodwin says she believes the best days for some portions of the market are likely behind us. Still, she says it is too early for investors to go fully defensive. She said the investment firm expects some value and small-cap companies to continue to perform well.</p><p><blockquote>在国内，古德温女士表示，她相信部分市场的最佳日子可能已经过去。尽管如此，她表示投资者现在完全防御还为时过早。她表示，该投资公司预计一些价值型和小盘股公司将继续表现良好。</blockquote></p><p> “The way we’re positioning our portfolios is that we are sticking with the reopening trade but believe...investors will have to invest more time and effort into finding quality companies that will continue to see earnings expansion,” said Ms. Goodwin.</p><p><blockquote>“古德温女士说：”我们对投资组合的定位是，我们坚持重新开放交易，但相信.....投资者将不得不投入更多的时间和精力来寻找优质公司，这些公司将继续实现盈利扩张。</blockquote></p><p> Already there have been signs of weakness within the U.S. stock market in recent trading sessions. All three major indexes declined last week and are currently down for the month. The trend, if continued, would mark the first monthly loss for the S&amp;P 500 since January. In general, September tends to be a historically weak period for the U.S. stock market. This year, in particular, investors are entering the choppy period with uncertainty.</p><p><blockquote>在最近的交易日中，美国股市已经出现了疲软的迹象。三大指数上周均下跌，目前本月均下跌。如果这一趋势持续下去，将标志着标普500自一月份以来首次出现月度亏损。总体而言，9月份往往是美国股市历史上的疲软时期。尤其是今年，投资者正进入一个充满不确定性的动荡时期。</blockquote></p><p> In the week ahead,&nbsp;investors will be parsing the latest inflation data that will come from the Labor Department’s consumer-price index, due out Tuesday. They will also be on the lookout for any fresh commentary from central bankers on their views of when the Fed will pull back on its asset-buying stimulus program. Some investors and analysts see the tightening of monetary policy as a potential risk for stocks.</p><p><blockquote>未来一周，投资者将分析劳工部将于周二公布的消费者价格指数带来的最新通胀数据。他们还将留意央行行长对美联储何时撤回资产购买刺激计划的看法的任何新评论。一些投资者和分析师将货币政策收紧视为股市的潜在风险。</blockquote></p><p></p><p> In a note last week, analysts at Citi Research said they see another risk for the market: the concern that current bullish positioning could amplify a market selloff. Such long positions on the S&amp;P 500 outnumber shorts 10 to 1, a team of analysts including Chris Montagu wrote, adding that around half of long positions would be in a loss situation if the benchmark index moved below 4435, less than 1% away from Friday’s closing level.</p><p><blockquote>花旗研究公司的分析师在上周的一份报告中表示，他们看到了市场的另一个风险：担心当前的看涨定位可能会加剧市场抛售。包括 Chris Montagu 在内的一个分析师团队写道，标普500的这种多头头寸与空头头寸的比例为 10 比 1，并补充说，如果基准指数跌破 4435，距离周五收盘价不到 1%，大约一半的多头头寸将处于亏损状态。</blockquote></p><p> “That means a small correction could be amplified by forced long liquidation pushing the market further down,” the Citi note said.</p><p><blockquote>“花旗的报告说：”这意味着小幅调整可能会因强制多头平仓而被放大，从而进一步推低市场。</blockquote></p><p> This month’s alarm bells from analysts aren’t the first to be sounded during the current bull market. Throughout 2021, wide-ranging market observers on Wall Street have raised concerns about signs of excess in the market, and investors have periodically braced for a pullback.</p><p><blockquote>在当前的牛市中，分析师本月的警钟并不是第一次响起。整个2021年，华尔街广泛的市场观察人士都对市场过度迹象表示担忧，投资者定期为回调做好准备。</blockquote></p><p> Still, U.S. stocks have largely kept rising, even in the midst of periodic stretches of declines. On Friday&nbsp;the S&amp;P 500 fell&nbsp;for a fifth consecutive session, its longest losing streak since February, to post a 1.7% loss for the week.</p><p><blockquote>尽管如此，美国股市在很大程度上仍在上涨，即使是在周期性下跌的情况下。周五，标普500连续第五个交易日下跌，这是自 2 月份以来最长的连跌，本周下跌 1.7%。</blockquote></p><p> The last time the benchmark index had a weekly loss around that size was the week ended June 18, when it fell 1.9% for the week. The index then went on to rally 4.9% over the next three weeks.</p><p><blockquote>基准指数上一次出现如此幅度的周跌幅是在截至 6 月 18 日当周，当时该指数下跌了 1.9%。随后，该指数在接下来的三周内继续上涨 4.9%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临秋季坎坷的风险</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临秋季坎坷的风险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-09-13 08:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.</p><p><blockquote>在美国股市今年创纪录的牛市之后，许多华尔街分析师开始警告称，投资者在未来几周和几个月内可能会经历一段坎坷的旅程。</blockquote></p><p> Analysts at firms including Morgan Stanley, Citigroup Inc., Deutsche Bank AG and Bank of America Corp. published notes this month cautioning about current risks in the U.S. equity market. With the S&amp;P 500 already hitting 54 records this year through Thursday—the most during that period since 1995—several analysts said that they believe there is a growing possibility of a pullback or, at the least, flatter returns.</p><p><blockquote>摩根士丹利、花旗集团、德意志银行和美国银行等公司的分析师本月发布报告，对美国股市当前的风险发出警告。截至周四，标普500今年已创下 54 项纪录，为 1995 年以来同期最高纪录，几位分析师表示，他们认为回调或至少回报变平的可能性越来越大。</blockquote></p><p> Behind that cautious outlook, the researchers said, is a combination of things, including&nbsp;euphoric investment sentiment, extended valuations and anticipation that inflation and supply-chain disruptions will weigh on corporate margins.</p><p><blockquote>研究人员表示，这种谨慎的前景背后是多种因素的结合，包括乐观的投资情绪、扩大的估值以及通胀和供应链中断将拖累企业利润率的预期。</blockquote></p><p> In a Wednesday note, strategists at BofA Securities said they saw little to be excited about, asking, “What good news is left?” They added, “A lot of optimism is already priced in.”</p><p><blockquote>美国银行证券（BofA Securities）的策略师在周三的一份报告中表示，他们看不到什么值得兴奋的，并问道：“还剩下什么好消息？”他们补充说：“很多乐观情绪已经被消化了。”</blockquote></p><p> In the note, the Bank of America team led by Savita Subramanian, head of U.S. equity and quantitative strategy, moved its year-end price target for the S&amp;P 500 price to 4250—a 4.7% reduction from the 4458.58 level at which the benchmark index closed Friday. For 2022, Bank of America set a 4600 price target for the end of the year.</p><p><blockquote>在这份报告中，由美国股票和量化策略主管萨维塔·苏布拉马尼亚 (Savita Subramanian) 领导的美国银行团队将标普500价格的年终目标价上调至 4250 点，较基准指数周五收盘价的 4458.58 点下降了 4.7%。对于2022年，美国银行设定了年底4600的目标价。</blockquote></p><p> The analysts’ cautious outlook for U.S. stocks presents a contrast to the so-called TINA—or “There Is No Alternative”—motto that has dominated investors’ outlook for much of the past year. Because yields on other assets such as bonds have been so low, many investors have justified their continuous bullish positioning in stocks.Accommodative monetary policy&nbsp;from the Federal Reserve has provided a continuous boost for equities this year, too, as has the lure of big investment returns from a swath of companies, ranging from&nbsp;meme stocks&nbsp;to&nbsp;Covid-19 beneficiaries.</p><p><blockquote>分析师对美国股市的谨慎前景与过去一年大部分时间主导投资者前景的所谓 TINA（或 “别无选择 ”）座右铭形成了鲜明对比。由于债券等其他资产的收益率一直很低，许多投资者证明了他们持续看涨股票的合理性。美联储的宽松货币政策也为今年的股市提供了持续提振，以及大量公司的巨额投资回报的诱惑，从模因股票到 Covid-19 受益者。</blockquote></p><p> In their September notes, however, some strategists said they were looking at other parts of the market for future gains. In a note last week, Morgan Stanley strategists wrote that they were downgrading their rating on U.S. equities to “underweight,” saying they prefer stocks in Europe and Japan and view cash as increasingly attractive to hold.</p><p><blockquote>然而，一些策略师在 9 月份的报告中表示，他们正在关注市场其他部分的未来涨幅。摩根士丹利策略师在上周的一份报告中写道，他们将美国股市的评级下调至 “跑输大盘”，称他们更喜欢欧洲和日本的股票，并认为持有现金越来越有吸引力。</blockquote></p><p> “We expect an understandable level of eye-rolling as we move overweight cash,” the Morgan Stanley team including Andrew Sheets wrote in the note, adding the caveat that select international equities and other assets are attractive relative to cash. The note continued, “Morgan Stanley strategists forecast cash to outperform U.S. equities, government bonds and credit over the next 12 months.”</p><p><blockquote>“包括 Andrew Sheets 在内的摩根士丹利团队在报告中写道：”我们预计，在转移跑赢大盘现金时，会出现可以理解的白眼现象，并补充说，相对于现金而言，部分国际股票和其他资产具有吸引力。报告继续说道：“摩根士丹利策略师预测，未来 12 个月，现金将跑赢美国股票、政府债券和信贷。”</blockquote></p><p> Parts of Morgan Stanley’s forecast are being put to work at New York Life Investments, the investment arm of New York Life Insurance Co. with more than $600 billion in assets under management.</p><p><blockquote>摩根士丹利的部分预测正在纽约人寿保险公司（New York Life Investments）实施，该公司是纽约人寿保险公司（New York Life Insurance Co.</blockquote></p><p> In its investment portfolio, the firm currently has an overweight position in international developed equity. Lauren Goodwin, an economist and portfolio strategist at New York Life Investments, said there has been more economic upside in Europe and Canada—two areas in which the firm has increased its investments.</p><p><blockquote>在其投资组合中，该公司目前在国际发达股票中拥有跑赢大盘头寸。纽约人寿投资公司 (New York Life Investments) 经济学家兼投资组合策略师劳伦·古德温 (Lauren Goodwin) 表示，欧洲和加拿大的经济上升空间更大，该公司已增加了投资这两个地区。</blockquote></p><p> Domestically, Ms. Goodwin says she believes the best days for some portions of the market are likely behind us. Still, she says it is too early for investors to go fully defensive. She said the investment firm expects some value and small-cap companies to continue to perform well.</p><p><blockquote>在国内，古德温女士表示，她相信部分市场的最佳日子可能已经过去。尽管如此，她表示投资者现在完全防御还为时过早。她表示，该投资公司预计一些价值型和小盘股公司将继续表现良好。</blockquote></p><p> “The way we’re positioning our portfolios is that we are sticking with the reopening trade but believe...investors will have to invest more time and effort into finding quality companies that will continue to see earnings expansion,” said Ms. Goodwin.</p><p><blockquote>“古德温女士说：”我们对投资组合的定位是，我们坚持重新开放交易，但相信.....投资者将不得不投入更多的时间和精力来寻找优质公司，这些公司将继续实现盈利扩张。</blockquote></p><p> Already there have been signs of weakness within the U.S. stock market in recent trading sessions. All three major indexes declined last week and are currently down for the month. The trend, if continued, would mark the first monthly loss for the S&amp;P 500 since January. In general, September tends to be a historically weak period for the U.S. stock market. This year, in particular, investors are entering the choppy period with uncertainty.</p><p><blockquote>在最近的交易日中，美国股市已经出现了疲软的迹象。三大指数上周均下跌，目前本月均下跌。如果这一趋势持续下去，将标志着标普500自一月份以来首次出现月度亏损。总体而言，9月份往往是美国股市历史上的疲软时期。尤其是今年，投资者正进入一个充满不确定性的动荡时期。</blockquote></p><p> In the week ahead,&nbsp;investors will be parsing the latest inflation data that will come from the Labor Department’s consumer-price index, due out Tuesday. They will also be on the lookout for any fresh commentary from central bankers on their views of when the Fed will pull back on its asset-buying stimulus program. Some investors and analysts see the tightening of monetary policy as a potential risk for stocks.</p><p><blockquote>未来一周，投资者将分析劳工部将于周二公布的消费者价格指数带来的最新通胀数据。他们还将留意央行行长对美联储何时撤回资产购买刺激计划的看法的任何新评论。一些投资者和分析师将货币政策收紧视为股市的潜在风险。</blockquote></p><p></p><p> In a note last week, analysts at Citi Research said they see another risk for the market: the concern that current bullish positioning could amplify a market selloff. Such long positions on the S&amp;P 500 outnumber shorts 10 to 1, a team of analysts including Chris Montagu wrote, adding that around half of long positions would be in a loss situation if the benchmark index moved below 4435, less than 1% away from Friday’s closing level.</p><p><blockquote>花旗研究公司的分析师在上周的一份报告中表示，他们看到了市场的另一个风险：担心当前的看涨定位可能会加剧市场抛售。包括 Chris Montagu 在内的一个分析师团队写道，标普500的这种多头头寸与空头头寸的比例为 10 比 1，并补充说，如果基准指数跌破 4435，距离周五收盘价不到 1%，大约一半的多头头寸将处于亏损状态。</blockquote></p><p> “That means a small correction could be amplified by forced long liquidation pushing the market further down,” the Citi note said.</p><p><blockquote>“花旗的报告说：”这意味着小幅调整可能会因强制多头平仓而被放大，从而进一步推低市场。</blockquote></p><p> This month’s alarm bells from analysts aren’t the first to be sounded during the current bull market. Throughout 2021, wide-ranging market observers on Wall Street have raised concerns about signs of excess in the market, and investors have periodically braced for a pullback.</p><p><blockquote>在当前的牛市中，分析师本月的警钟并不是第一次响起。整个2021年，华尔街广泛的市场观察人士都对市场过度迹象表示担忧，投资者定期为回调做好准备。</blockquote></p><p> Still, U.S. stocks have largely kept rising, even in the midst of periodic stretches of declines. On Friday&nbsp;the S&amp;P 500 fell&nbsp;for a fifth consecutive session, its longest losing streak since February, to post a 1.7% loss for the week.</p><p><blockquote>尽管如此，美国股市在很大程度上仍在上涨，即使是在周期性下跌的情况下。周五，标普500连续第五个交易日下跌，这是自 2 月份以来最长的连跌，本周下跌 1.7%。</blockquote></p><p> The last time the benchmark index had a weekly loss around that size was the week ended June 18, when it fell 1.9% for the week. The index then went on to rally 4.9% over the next three weeks.</p><p><blockquote>基准指数上一次出现如此幅度的周跌幅是在截至 6 月 18 日当周，当时该指数下跌了 1.9%。随后，该指数在接下来的三周内继续上涨 4.9%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/u-s-stock-market-faces-potentially-bumpy-autumn-wall-street-analysts-warn-11631439002?mod=hp_lead_pos1\">WSJ</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/u-s-stock-market-faces-potentially-bumpy-autumn-wall-street-analysts-warn-11631439002?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190225456","content_text":"After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.\nAnalysts at firms including Morgan Stanley, Citigroup Inc., Deutsche Bank AG and Bank of America Corp. published notes this month cautioning about current risks in the U.S. equity market. With the S&P 500 already hitting 54 records this year through Thursday—the most during that period since 1995—several analysts said that they believe there is a growing possibility of a pullback or, at the least, flatter returns.\nBehind that cautious outlook, the researchers said, is a combination of things, including euphoric investment sentiment, extended valuations and anticipation that inflation and supply-chain disruptions will weigh on corporate margins.\nIn a Wednesday note, strategists at BofA Securities said they saw little to be excited about, asking, “What good news is left?” They added, “A lot of optimism is already priced in.”\nIn the note, the Bank of America team led by Savita Subramanian, head of U.S. equity and quantitative strategy, moved its year-end price target for the S&P 500 price to 4250—a 4.7% reduction from the 4458.58 level at which the benchmark index closed Friday. For 2022, Bank of America set a 4600 price target for the end of the year.\nThe analysts’ cautious outlook for U.S. stocks presents a contrast to the so-called TINA—or “There Is No Alternative”—motto that has dominated investors’ outlook for much of the past year. Because yields on other assets such as bonds have been so low, many investors have justified their continuous bullish positioning in stocks.Accommodative monetary policy from the Federal Reserve has provided a continuous boost for equities this year, too, as has the lure of big investment returns from a swath of companies, ranging from meme stocks to Covid-19 beneficiaries.\nIn their September notes, however, some strategists said they were looking at other parts of the market for future gains. In a note last week, Morgan Stanley strategists wrote that they were downgrading their rating on U.S. equities to “underweight,” saying they prefer stocks in Europe and Japan and view cash as increasingly attractive to hold.\n“We expect an understandable level of eye-rolling as we move overweight cash,” the Morgan Stanley team including Andrew Sheets wrote in the note, adding the caveat that select international equities and other assets are attractive relative to cash. The note continued, “Morgan Stanley strategists forecast cash to outperform U.S. equities, government bonds and credit over the next 12 months.”\nParts of Morgan Stanley’s forecast are being put to work at New York Life Investments, the investment arm of New York Life Insurance Co. with more than $600 billion in assets under management.\nIn its investment portfolio, the firm currently has an overweight position in international developed equity. Lauren Goodwin, an economist and portfolio strategist at New York Life Investments, said there has been more economic upside in Europe and Canada—two areas in which the firm has increased its investments.\nDomestically, Ms. Goodwin says she believes the best days for some portions of the market are likely behind us. Still, she says it is too early for investors to go fully defensive. She said the investment firm expects some value and small-cap companies to continue to perform well.\n“The way we’re positioning our portfolios is that we are sticking with the reopening trade but believe...investors will have to invest more time and effort into finding quality companies that will continue to see earnings expansion,” said Ms. Goodwin.\nAlready there have been signs of weakness within the U.S. stock market in recent trading sessions. All three major indexes declined last week and are currently down for the month. The trend, if continued, would mark the first monthly loss for the S&P 500 since January. In general, September tends to be a historically weak period for the U.S. stock market. This year, in particular, investors are entering the choppy period with uncertainty.\nIn the week ahead, investors will be parsing the latest inflation data that will come from the Labor Department’s consumer-price index, due out Tuesday. They will also be on the lookout for any fresh commentary from central bankers on their views of when the Fed will pull back on its asset-buying stimulus program. Some investors and analysts see the tightening of monetary policy as a potential risk for stocks.\nIn a note last week, analysts at Citi Research said they see another risk for the market: the concern that current bullish positioning could amplify a market selloff. Such long positions on the S&P 500 outnumber shorts 10 to 1, a team of analysts including Chris Montagu wrote, adding that around half of long positions would be in a loss situation if the benchmark index moved below 4435, less than 1% away from Friday’s closing level.\n“That means a small correction could be amplified by forced long liquidation pushing the market further down,” the Citi note said.\nThis month’s alarm bells from analysts aren’t the first to be sounded during the current bull market. Throughout 2021, wide-ranging market observers on Wall Street have raised concerns about signs of excess in the market, and investors have periodically braced for a pullback.\nStill, U.S. stocks have largely kept rising, even in the midst of periodic stretches of declines. On Friday the S&P 500 fell for a fifth consecutive session, its longest losing streak since February, to post a 1.7% loss for the week.\nThe last time the benchmark index had a weekly loss around that size was the week ended June 18, when it fell 1.9% for the week. The index then went on to rally 4.9% over the next three weeks.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2651,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889181765,"gmtCreate":1631114698157,"gmtModify":1631887249722,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Inflation coming","listText":"Inflation coming","text":"Inflation coming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/889181765","repostId":"1162593236","repostType":4,"isVote":1,"tweetType":1,"viewCount":2893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817520695,"gmtCreate":1630976125917,"gmtModify":1631887249734,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"They maybe over exaggerating when talking about gains","listText":"They maybe over exaggerating when talking about gains","text":"They maybe over exaggerating when talking about gains","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817520695","repostId":"2165809018","repostType":4,"repost":{"id":"2165809018","kind":"highlight","pubTimestamp":1630975805,"share":"https://www.laohunote.com/m/news/2165809018?lang=zh_CN&edition=full","pubTime":"2021-09-07 08:50","market":"us","language":"en","title":"Investors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘自己精选的股票，但要小心那些使用花哨的数学来计算收益的人</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2165809018","media":"MarketWatch","summary":"Even pros rarely beat the stock market\nGetty Images\nBeating the market is so difficult that you'd be","content":"<p>Even pros rarely beat the stock market</p><p><blockquote>即使是专业人士也很少能击败股市</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c518e42fc389c9a262ce1a76a11d484e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Getty Images</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片社</span></p></blockquote></p><p> Beating the market is so difficult that you'd be excused for giving up.</p><p><blockquote>战胜市场是如此困难，以至于你可以原谅放弃。</blockquote></p><p> But unlike what happens when you give up elsewhere in life, in the investment arena it's actually a shrewd strategy for winning.</p><p><blockquote>但与你在生活中其他地方放弃时发生的情况不同，在投资领域，这实际上是一种精明的获胜策略。</blockquote></p><p> After more than 40 years of rigorously auditing the performance of investment advisers, I have learned that over the long term, buying and holding an index fund that tracks the S&amp;P 500 or other broad index nearly always comes out ahead of all other attempts to do better, such as market timing or picking particular stocks, ETFs and mutual funds.</p><p><blockquote>经过 40 多年对投资顾问业绩的严格审计，我了解到，从长远来看，购买并持有跟踪标普500或其他广泛指数的指数基金几乎总是先于所有其他做得更好的尝试，例如市场时机或选择特定股票、ETF 和共同基金。</blockquote></p><p> It's amazing when you think about it: What other pursuit in life is there in which you can come close to winning every race by simply sitting on your hands and doing nothing?</p><p><blockquote>当你想到这一点时，这是令人惊讶的：生活中还有什么其他追求可以让你在每场比赛中只需坐在手上什么都不做就能接近获胜？</blockquote></p><p> I'm not saying it's impossible to beat the market. What I am saying is that it's very difficult and rare. And it's even rarer for an adviser who beats the market in one period to do so in the successive period as well.</p><p><blockquote>我不是说不可能战胜市场。我想说的是，这是非常困难和罕见的。更罕见的是，一个在一个时期跑赢市场的顾问在下一个时期也跑赢市场。</blockquote></p><p> I am not the first person to point this out. But what I can contribute to the debate is my extensive performance database that contains real-world returns back to 1980. It compellingly shows how impossibly low your odds are of winning when trying to beat the market.</p><p><blockquote>我不是第一个指出这一点的人。但我能对这场辩论做出贡献的是我广泛的性能数据库，其中包含了1980年的真实世界回报。它令人信服地表明，当你试图战胜市场时，你获胜的几率是多么的低。</blockquote></p><p> My first step in drawing investment lessons from my huge database was to construct a list of investment newsletter portfolios that at any point since 1980 were in the top 10% for performance in a given calendar year. Given how many newsletters my Hulbert Financial Digest has monitored over the years, this list of top decile performers was sizable, containing more than 1,500 portfolios. By construction, the percentiles of their performance rank all fell between 90 and 100, and averaged 95.</p><p><blockquote>我从庞大的数据库中汲取投资经验的第一步是构建一份投资通讯投资组合列表，这些投资通讯投资组合在 1980 年以来的任何时候都处于特定日历年表现前 10% 的位置。考虑到《赫尔伯特金融文摘》多年来监测了多少份时事通讯，这份表现最佳十分之一的名单相当庞大，包含超过 1,500 个投资组合。按照结构，他们的绩效排名百分位数都在90到100之间，平均为95。</blockquote></p><p> What I wanted to measure was how these newsletter portfolios performed in the immediately succeeding year. If performance were a matter of pure skill, then we'd expect that they would have been in the top decile for performance in that second year as well--with an average percentile rank that also was 95.</p><p><blockquote>我想衡量的是这些时事通讯组合在接下来的一年里的表现。如果表现是一个纯粹的技能问题，那么我们预计他们在第二年的表现也会名列前茅——平均百分位数排名也是95。</blockquote></p><p> That's not what I found, however--not by a long shot. These newsletters' average percentile rank in that second year was just 51.5. That is statistically similar to the 50.0 it would have been if performance were a matter of pure luck.</p><p><blockquote>然而，这不是我发现的——差不多了。这些时事通讯在第二年的平均百分位排名仅为51.5。这在统计学上类似于 50.0，如果性能纯粹是运气的话。</blockquote></p><p> I next repeated this analysis for each of the other nine deciles for initial-year performance rank. As you can see from this chart, their expected ranks in the successive years were very close to the 50 percentile, regardless of their performance in the initial year.</p><p><blockquote>接下来，我对第一年表现排名的其他九个十分位数重复了这一分析。从这张图表中可以看出，无论他们第一年的表现如何，他们在连续几年的预期排名都非常接近50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ebfad8a8d9638e4b57cf085b425e5742\" tg-width=\"700\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The only exception came for newsletters in the bottom 10% for first-year return. The average second-year percentile ranking was 38.8--significantly below what you'd expect if performance were a matter of pure luck. In other words, it's a decent bet that one year's worst adviser will have a below-average performance in the subsequent year too.</p><p><blockquote>唯一的例外是第一年回报率排名垫底10%的时事通讯。第二年的平均百分位排名为38.8——如果表现纯粹是运气的话，大大低于你的预期。换句话说，可以肯定的是，一年中最差的顾问在下一年的表现也会低于平均水平。</blockquote></p><p> What these results mean: While investment advisory performance is not a matter of pure randomness, the deviations from randomness primarily occur among the worst performers--not the best. Unfortunately that doesn't help us to beat the market.</p><p><blockquote>这些结果意味着什么：虽然投资咨询绩效不是一个纯粹随机性的问题，但与随机性的偏差主要发生在表现最差的公司，而不是最好的公司。不幸的是，这并不能帮助我们战胜市场。</blockquote></p><p> By the way, don't think that you can wriggle out from these conclusions by arguing that other kinds of advisers are better than newsletter editors. At least in regards to the persistence (or lack thereof) between past and future performance, newsletter editors are no different than managers of mutual funds, ETFs, hedge funds and private-equity funds.</p><p><blockquote>顺便说一句，不要认为你可以通过争论其他类型的顾问比时事通讯编辑更好来摆脱这些结论。至少在过去和未来业绩之间的持久性（或缺乏持久性）方面，时事通讯编辑与共同基金、ETF、对冲基金和私募股权基金的经理没有什么不同。</blockquote></p><p> <b>Beware of arrogance</b></p><p><blockquote><b>当心傲慢</b></blockquote></p><p> While I believe the data are conclusive, I'm not holding my breath that it will persuade many of you to throw in the towel and go with an index fund. That's because the typical investor all too often believes that the poor odds of beating the market apply to everyone else but not to him individually.</p><p><blockquote>虽然我相信这些数据是决定性的，但我并不屏住呼吸，因为它会说服你们中的许多人认输并选择指数基金。这是因为典型的投资者常常认为，跑赢市场的可能性很小，但不适用于他个人。</blockquote></p><p> It reminds me of the famous study in which almost all of us indicate we're better-than-average drivers.</p><p><blockquote>这让我想起了著名的研究，在这项研究中，我们几乎所有人都表明我们是比平均水平更好的司机。</blockquote></p><p> This arrogance has obviously dangerous consequences on our roads and highways. But it's dangerous in the investment arena as well because it leads investors into incurring greater and greater risks.</p><p><blockquote>这种傲慢显然对我们的道路和高速公路有着危险的后果。但这在投资领域也是危险的，因为它会导致投资者承担越来越大的风险。</blockquote></p><p> That creates a downward spiral: When the arrogant investor starts losing to the market, which inevitably happens sooner or later, he pursues an even riskier strategy to make up for his prior loss. That in turn invariably leads him to suffer even greater losses. And the cycle repeats.</p><p><blockquote>这就造成了一个螺旋式下降：当傲慢的投资者开始输给市场时（这种情况迟早会发生），他会采取风险更高的策略来弥补之前的损失。这反过来又总是导致他遭受更大的损失。循环往复。</blockquote></p><p></p><p> The temptation of arrogance is particularly evident when it comes to social media. Psychologists have found that younger investors are far more inclined to pursue risky strategies when they are being watched than when operating alone. This helps to explain the bravado that so frequently is exhibited on investment-focused social media platforms.</p><p><blockquote>在社交媒体上，傲慢的诱惑尤为明显。心理学家发现，年轻投资者在被监视时比单独操作时更倾向于采取风险策略。这有助于解释在以投资为重点的社交媒体平台上经常出现的虚张声势。</blockquote></p><p> Buying and holding an index fund is boring. Adherents are rarely drawn to social media in the first place, and even if they are, they rarely post that they are continuing to hold the same investment they've had for years.</p><p><blockquote>购买和持有指数基金很无聊。追随者很少首先被社交媒体吸引，即使他们被吸引，他们也很少发布他们继续持有多年来持有的相同投资。</blockquote></p><p> <b>Beware of this trick, too</b></p><p><blockquote><b>也要小心这个把戏</b></blockquote></p><p> A similar dynamic leads those who frequent social media to brag about their spectacular winners while ignoring their losers. One frequent way they do it is to annualize their returns from a short-term trade and then boast about that figure. Imagine a stock that goes from $10 to $11 in a week's time. In itself, that doesn't seem particularly remarkable. On an annualized basis, however, that is equivalent to a gain of more than 14,000%.</p><p><blockquote>类似的动态导致那些经常使用社交媒体的人吹嘘他们惊人的赢家，而忽略他们的输家。他们这样做的一种常见方法是将短期交易的回报年化，然后吹嘘这个数字。想象一下，一只股票在一周内从 10 美元涨到 11 美元。这本身似乎并不特别引人注目。然而，按年化计算，这相当于超过 14,000% 的收益。</blockquote></p><p> Readers of these social media boasts initially must believe they are the only ones with a mixture of both winning and losing trades. Only later do they discover the unspoken rules of social media platforms: it's bad form to ask fellow investors about their losers, just like it's poor etiquette after a round of golf to ask the boastful golfer whether he actually beat par.</p><p><blockquote>这些社交媒体吹嘘的读者最初必须相信，他们是唯一一个既赢又输的交易的人。直到后来，他们才发现社交媒体平台的潜规则：询问其他投资者关于他们的输家是一种糟糕的形式，就像一场高尔夫球后问吹牛的高尔夫球手是否真的打出了标准杆是一种糟糕的礼仪一样。</blockquote></p><p> Humility is a virtue in the investment area. We would do well to remember Socrates' famous line: \"I am the wisest man alive, for I know one thing, and that is that I know nothing.\"</p><p><blockquote>谦逊是投资领域的一种美德。我们最好记住苏格拉底的名言：“我是活着的最聪明的人，因为我知道一件事，那就是我一无所知。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘自己精选的股票，但要小心那些使用花哨的数学来计算收益的人</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvestors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘自己精选的股票，但要小心那些使用花哨的数学来计算收益的人</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-07 08:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Even pros rarely beat the stock market</p><p><blockquote>即使是专业人士也很少能击败股市</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c518e42fc389c9a262ce1a76a11d484e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Getty Images</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片社</span></p></blockquote></p><p> Beating the market is so difficult that you'd be excused for giving up.</p><p><blockquote>战胜市场是如此困难，以至于你可以原谅放弃。</blockquote></p><p> But unlike what happens when you give up elsewhere in life, in the investment arena it's actually a shrewd strategy for winning.</p><p><blockquote>但与你在生活中其他地方放弃时发生的情况不同，在投资领域，这实际上是一种精明的获胜策略。</blockquote></p><p> After more than 40 years of rigorously auditing the performance of investment advisers, I have learned that over the long term, buying and holding an index fund that tracks the S&amp;P 500 or other broad index nearly always comes out ahead of all other attempts to do better, such as market timing or picking particular stocks, ETFs and mutual funds.</p><p><blockquote>经过 40 多年对投资顾问业绩的严格审计，我了解到，从长远来看，购买并持有跟踪标普500或其他广泛指数的指数基金几乎总是先于所有其他做得更好的尝试，例如市场时机或选择特定股票、ETF 和共同基金。</blockquote></p><p> It's amazing when you think about it: What other pursuit in life is there in which you can come close to winning every race by simply sitting on your hands and doing nothing?</p><p><blockquote>当你想到这一点时，这是令人惊讶的：生活中还有什么其他追求可以让你在每场比赛中只需坐在手上什么都不做就能接近获胜？</blockquote></p><p> I'm not saying it's impossible to beat the market. What I am saying is that it's very difficult and rare. And it's even rarer for an adviser who beats the market in one period to do so in the successive period as well.</p><p><blockquote>我不是说不可能战胜市场。我想说的是，这是非常困难和罕见的。更罕见的是，一个在一个时期跑赢市场的顾问在下一个时期也跑赢市场。</blockquote></p><p> I am not the first person to point this out. But what I can contribute to the debate is my extensive performance database that contains real-world returns back to 1980. It compellingly shows how impossibly low your odds are of winning when trying to beat the market.</p><p><blockquote>我不是第一个指出这一点的人。但我能对这场辩论做出贡献的是我广泛的性能数据库，其中包含了1980年的真实世界回报。它令人信服地表明，当你试图战胜市场时，你获胜的几率是多么的低。</blockquote></p><p> My first step in drawing investment lessons from my huge database was to construct a list of investment newsletter portfolios that at any point since 1980 were in the top 10% for performance in a given calendar year. Given how many newsletters my Hulbert Financial Digest has monitored over the years, this list of top decile performers was sizable, containing more than 1,500 portfolios. By construction, the percentiles of their performance rank all fell between 90 and 100, and averaged 95.</p><p><blockquote>我从庞大的数据库中汲取投资经验的第一步是构建一份投资通讯投资组合列表，这些投资通讯投资组合在 1980 年以来的任何时候都处于特定日历年表现前 10% 的位置。考虑到《赫尔伯特金融文摘》多年来监测了多少份时事通讯，这份表现最佳十分之一的名单相当庞大，包含超过 1,500 个投资组合。按照结构，他们的绩效排名百分位数都在90到100之间，平均为95。</blockquote></p><p> What I wanted to measure was how these newsletter portfolios performed in the immediately succeeding year. If performance were a matter of pure skill, then we'd expect that they would have been in the top decile for performance in that second year as well--with an average percentile rank that also was 95.</p><p><blockquote>我想衡量的是这些时事通讯组合在接下来的一年里的表现。如果表现是一个纯粹的技能问题，那么我们预计他们在第二年的表现也会名列前茅——平均百分位数排名也是95。</blockquote></p><p> That's not what I found, however--not by a long shot. These newsletters' average percentile rank in that second year was just 51.5. That is statistically similar to the 50.0 it would have been if performance were a matter of pure luck.</p><p><blockquote>然而，这不是我发现的——差不多了。这些时事通讯在第二年的平均百分位排名仅为51.5。这在统计学上类似于 50.0，如果性能纯粹是运气的话。</blockquote></p><p> I next repeated this analysis for each of the other nine deciles for initial-year performance rank. As you can see from this chart, their expected ranks in the successive years were very close to the 50 percentile, regardless of their performance in the initial year.</p><p><blockquote>接下来，我对第一年表现排名的其他九个十分位数重复了这一分析。从这张图表中可以看出，无论他们第一年的表现如何，他们在连续几年的预期排名都非常接近50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ebfad8a8d9638e4b57cf085b425e5742\" tg-width=\"700\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The only exception came for newsletters in the bottom 10% for first-year return. The average second-year percentile ranking was 38.8--significantly below what you'd expect if performance were a matter of pure luck. In other words, it's a decent bet that one year's worst adviser will have a below-average performance in the subsequent year too.</p><p><blockquote>唯一的例外是第一年回报率排名垫底10%的时事通讯。第二年的平均百分位排名为38.8——如果表现纯粹是运气的话，大大低于你的预期。换句话说，可以肯定的是，一年中最差的顾问在下一年的表现也会低于平均水平。</blockquote></p><p> What these results mean: While investment advisory performance is not a matter of pure randomness, the deviations from randomness primarily occur among the worst performers--not the best. Unfortunately that doesn't help us to beat the market.</p><p><blockquote>这些结果意味着什么：虽然投资咨询绩效不是一个纯粹随机性的问题，但与随机性的偏差主要发生在表现最差的公司，而不是最好的公司。不幸的是，这并不能帮助我们战胜市场。</blockquote></p><p> By the way, don't think that you can wriggle out from these conclusions by arguing that other kinds of advisers are better than newsletter editors. At least in regards to the persistence (or lack thereof) between past and future performance, newsletter editors are no different than managers of mutual funds, ETFs, hedge funds and private-equity funds.</p><p><blockquote>顺便说一句，不要认为你可以通过争论其他类型的顾问比时事通讯编辑更好来摆脱这些结论。至少在过去和未来业绩之间的持久性（或缺乏持久性）方面，时事通讯编辑与共同基金、ETF、对冲基金和私募股权基金的经理没有什么不同。</blockquote></p><p> <b>Beware of arrogance</b></p><p><blockquote><b>当心傲慢</b></blockquote></p><p> While I believe the data are conclusive, I'm not holding my breath that it will persuade many of you to throw in the towel and go with an index fund. That's because the typical investor all too often believes that the poor odds of beating the market apply to everyone else but not to him individually.</p><p><blockquote>虽然我相信这些数据是决定性的，但我并不屏住呼吸，因为它会说服你们中的许多人认输并选择指数基金。这是因为典型的投资者常常认为，跑赢市场的可能性很小，但不适用于他个人。</blockquote></p><p> It reminds me of the famous study in which almost all of us indicate we're better-than-average drivers.</p><p><blockquote>这让我想起了著名的研究，在这项研究中，我们几乎所有人都表明我们是比平均水平更好的司机。</blockquote></p><p> This arrogance has obviously dangerous consequences on our roads and highways. But it's dangerous in the investment arena as well because it leads investors into incurring greater and greater risks.</p><p><blockquote>这种傲慢显然对我们的道路和高速公路有着危险的后果。但这在投资领域也是危险的，因为它会导致投资者承担越来越大的风险。</blockquote></p><p> That creates a downward spiral: When the arrogant investor starts losing to the market, which inevitably happens sooner or later, he pursues an even riskier strategy to make up for his prior loss. That in turn invariably leads him to suffer even greater losses. And the cycle repeats.</p><p><blockquote>这就造成了一个螺旋式下降：当傲慢的投资者开始输给市场时（这种情况迟早会发生），他会采取风险更高的策略来弥补之前的损失。这反过来又总是导致他遭受更大的损失。循环往复。</blockquote></p><p></p><p> The temptation of arrogance is particularly evident when it comes to social media. Psychologists have found that younger investors are far more inclined to pursue risky strategies when they are being watched than when operating alone. This helps to explain the bravado that so frequently is exhibited on investment-focused social media platforms.</p><p><blockquote>在社交媒体上，傲慢的诱惑尤为明显。心理学家发现，年轻投资者在被监视时比单独操作时更倾向于采取风险策略。这有助于解释在以投资为重点的社交媒体平台上经常出现的虚张声势。</blockquote></p><p> Buying and holding an index fund is boring. Adherents are rarely drawn to social media in the first place, and even if they are, they rarely post that they are continuing to hold the same investment they've had for years.</p><p><blockquote>购买和持有指数基金很无聊。追随者很少首先被社交媒体吸引，即使他们被吸引，他们也很少发布他们继续持有多年来持有的相同投资。</blockquote></p><p> <b>Beware of this trick, too</b></p><p><blockquote><b>也要小心这个把戏</b></blockquote></p><p> A similar dynamic leads those who frequent social media to brag about their spectacular winners while ignoring their losers. One frequent way they do it is to annualize their returns from a short-term trade and then boast about that figure. Imagine a stock that goes from $10 to $11 in a week's time. In itself, that doesn't seem particularly remarkable. On an annualized basis, however, that is equivalent to a gain of more than 14,000%.</p><p><blockquote>类似的动态导致那些经常使用社交媒体的人吹嘘他们惊人的赢家，而忽略他们的输家。他们这样做的一种常见方法是将短期交易的回报年化，然后吹嘘这个数字。想象一下，一只股票在一周内从 10 美元涨到 11 美元。这本身似乎并不特别引人注目。然而，按年化计算，这相当于超过 14,000% 的收益。</blockquote></p><p> Readers of these social media boasts initially must believe they are the only ones with a mixture of both winning and losing trades. Only later do they discover the unspoken rules of social media platforms: it's bad form to ask fellow investors about their losers, just like it's poor etiquette after a round of golf to ask the boastful golfer whether he actually beat par.</p><p><blockquote>这些社交媒体吹嘘的读者最初必须相信，他们是唯一一个既赢又输的交易的人。直到后来，他们才发现社交媒体平台的潜规则：询问其他投资者关于他们的输家是一种糟糕的形式，就像一场高尔夫球后问吹牛的高尔夫球手是否真的打出了标准杆是一种糟糕的礼仪一样。</blockquote></p><p> Humility is a virtue in the investment area. We would do well to remember Socrates' famous line: \"I am the wisest man alive, for I know one thing, and that is that I know nothing.\"</p><p><blockquote>谦逊是投资领域的一种美德。我们最好记住苏格拉底的名言：“我是活着的最聪明的人，因为我知道一件事，那就是我一无所知。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/investors-love-to-boast-about-their-great-stock-picks-but-beware-of-those-who-use-fancy-math-to-calculate-their-gains-11630784143?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/investors-love-to-boast-about-their-great-stock-picks-but-beware-of-those-who-use-fancy-math-to-calculate-their-gains-11630784143?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165809018","content_text":"Even pros rarely beat the stock market\nGetty Images\nBeating the market is so difficult that you'd be excused for giving up.\nBut unlike what happens when you give up elsewhere in life, in the investment arena it's actually a shrewd strategy for winning.\nAfter more than 40 years of rigorously auditing the performance of investment advisers, I have learned that over the long term, buying and holding an index fund that tracks the S&P 500 or other broad index nearly always comes out ahead of all other attempts to do better, such as market timing or picking particular stocks, ETFs and mutual funds.\nIt's amazing when you think about it: What other pursuit in life is there in which you can come close to winning every race by simply sitting on your hands and doing nothing?\nI'm not saying it's impossible to beat the market. What I am saying is that it's very difficult and rare. And it's even rarer for an adviser who beats the market in one period to do so in the successive period as well.\nI am not the first person to point this out. But what I can contribute to the debate is my extensive performance database that contains real-world returns back to 1980. It compellingly shows how impossibly low your odds are of winning when trying to beat the market.\nMy first step in drawing investment lessons from my huge database was to construct a list of investment newsletter portfolios that at any point since 1980 were in the top 10% for performance in a given calendar year. Given how many newsletters my Hulbert Financial Digest has monitored over the years, this list of top decile performers was sizable, containing more than 1,500 portfolios. By construction, the percentiles of their performance rank all fell between 90 and 100, and averaged 95.\nWhat I wanted to measure was how these newsletter portfolios performed in the immediately succeeding year. If performance were a matter of pure skill, then we'd expect that they would have been in the top decile for performance in that second year as well--with an average percentile rank that also was 95.\nThat's not what I found, however--not by a long shot. These newsletters' average percentile rank in that second year was just 51.5. That is statistically similar to the 50.0 it would have been if performance were a matter of pure luck.\nI next repeated this analysis for each of the other nine deciles for initial-year performance rank. As you can see from this chart, their expected ranks in the successive years were very close to the 50 percentile, regardless of their performance in the initial year.\n\nThe only exception came for newsletters in the bottom 10% for first-year return. The average second-year percentile ranking was 38.8--significantly below what you'd expect if performance were a matter of pure luck. In other words, it's a decent bet that one year's worst adviser will have a below-average performance in the subsequent year too.\nWhat these results mean: While investment advisory performance is not a matter of pure randomness, the deviations from randomness primarily occur among the worst performers--not the best. Unfortunately that doesn't help us to beat the market.\nBy the way, don't think that you can wriggle out from these conclusions by arguing that other kinds of advisers are better than newsletter editors. At least in regards to the persistence (or lack thereof) between past and future performance, newsletter editors are no different than managers of mutual funds, ETFs, hedge funds and private-equity funds.\nBeware of arrogance\nWhile I believe the data are conclusive, I'm not holding my breath that it will persuade many of you to throw in the towel and go with an index fund. That's because the typical investor all too often believes that the poor odds of beating the market apply to everyone else but not to him individually.\nIt reminds me of the famous study in which almost all of us indicate we're better-than-average drivers.\nThis arrogance has obviously dangerous consequences on our roads and highways. But it's dangerous in the investment arena as well because it leads investors into incurring greater and greater risks.\nThat creates a downward spiral: When the arrogant investor starts losing to the market, which inevitably happens sooner or later, he pursues an even riskier strategy to make up for his prior loss. That in turn invariably leads him to suffer even greater losses. And the cycle repeats.\nThe temptation of arrogance is particularly evident when it comes to social media. Psychologists have found that younger investors are far more inclined to pursue risky strategies when they are being watched than when operating alone. This helps to explain the bravado that so frequently is exhibited on investment-focused social media platforms.\nBuying and holding an index fund is boring. Adherents are rarely drawn to social media in the first place, and even if they are, they rarely post that they are continuing to hold the same investment they've had for years.\nBeware of this trick, too\nA similar dynamic leads those who frequent social media to brag about their spectacular winners while ignoring their losers. One frequent way they do it is to annualize their returns from a short-term trade and then boast about that figure. Imagine a stock that goes from $10 to $11 in a week's time. In itself, that doesn't seem particularly remarkable. On an annualized basis, however, that is equivalent to a gain of more than 14,000%.\nReaders of these social media boasts initially must believe they are the only ones with a mixture of both winning and losing trades. Only later do they discover the unspoken rules of social media platforms: it's bad form to ask fellow investors about their losers, just like it's poor etiquette after a round of golf to ask the boastful golfer whether he actually beat par.\nHumility is a virtue in the investment area. We would do well to remember Socrates' famous line: \"I am the wisest man alive, for I know one thing, and that is that I know nothing.\"","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817909507,"gmtCreate":1630894437909,"gmtModify":1631887249745,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Can rest for 1 night at Wallstreet","listText":"Can rest for 1 night at Wallstreet","text":"Can rest for 1 night at Wallstreet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817909507","repostId":"1126654067","repostType":4,"repost":{"id":"1126654067","kind":"news","pubTimestamp":1630885254,"share":"https://www.laohunote.com/m/news/1126654067?lang=zh_CN&edition=full","pubTime":"2021-09-06 07:40","market":"us","language":"en","title":"Is the U.S. stock market open on Labor Day?<blockquote>美国股市在劳动节开市吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126654067","media":"MarketWatch","summary":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be cl","content":"<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于 9 月 6 日星期一劳动节休市，标志着美国为期三天的周末，此前股市经历了大部分精彩的表现。尽管人们对冠状病毒德尔塔变异毒株的传播感到担忧，并且对美联储在去年疫情爆发时实施的宽松货币政策最终撤销的时间表感到不安，但股市还是出现了上涨。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，美国证券交易所，包括洲际交易所（Intercontinental Exchange Inc.）和纳斯达克公司旗下的纽约证券交易所（New York Stock Exchange Inc.）将休市，因此不要关注道琼斯工业平均指数、标普500指数或纳斯达克综合指数等个股或指数的任何波动。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500指数在 2021 年已创下 54 个收盘历史新高，并有望在周五创下第 55 个收盘历史新高，而纳斯达克综合指数有望创下今年第 35 个历史新高。周五下午三点左右，道琼斯指数较 8 月 16 日的纪录上涨不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>固定收益证券行业贸易组织Sifma也建议劳动节债券市场休市，包括交易10年期国债，在美国8月就业报告弱于预期后，10年期国债收益率约为1.33%。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8 月份新增就业岗位 23.5 万个，远低于预期的 70 多万个，但未能降低主权债务投资者对美联储近期宣布缩减每月 1200 亿美元国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所大多数商品期货交易，包括 Nymex 原油和 Comex 黄金，也将于周一停止交易。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者来说还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>可能不会。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但道琼斯市场数据显示，近年来五月阵亡将士纪念日至九月劳动节期间对投资者来说是一个看涨时期。例如，道琼斯指数在此期间上涨了约 2%，平均上涨 1.3%，65% 的时间都创下了上涨纪录。道琼斯指数目前在过去六个阵亡将士纪念日/劳动节期间取得连胜，这是自1989年以来最长的连胜纪录。去年，市场在此期间上涨了近 15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜势头，在阵亡将士纪念日-劳动节期间迄今已上涨近 8%。过去几年同期上涨了 70% 以上，平均涨幅为 1.7%。2020 年同期，大盘指数上涨了 16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果说劳动节交易有一个真正的趋势，那可能就是 MarketWatch 的史蒂夫-戈尔茨坦（Steve Goldstein）援引雷蒙德-詹姆斯（Raymond James）策略师塔维斯-麦考特（Tavis McCourt）的话说，在过去两年中，节后股市存在很大的价值和周期性偏差，2018 年，市场在夏季结束后基本上崩溃了。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这次股市上涨是否会类似地消失，但华尔街越来越认为估值过高，股指将从当前高点回调至少 5% 或更多。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>周二市场将恢复正常交易，当然，包括伦敦富时 100 指数和泛欧斯托克欧洲 600 指数在内的欧洲证券交易所将于周一开盘，亚洲市场、日经 225 指数、香港恒生指数和上证综合指数也将开盘。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the U.S. stock market open on Labor Day?<blockquote>美国股市在劳动节开市吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs the U.S. stock market open on Labor Day?<blockquote>美国股市在劳动节开市吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-06 07:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于 9 月 6 日星期一劳动节休市，标志着美国为期三天的周末，此前股市经历了大部分精彩的表现。尽管人们对冠状病毒德尔塔变异毒株的传播感到担忧，并且对美联储在去年疫情爆发时实施的宽松货币政策最终撤销的时间表感到不安，但股市还是出现了上涨。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，美国证券交易所，包括洲际交易所（Intercontinental Exchange Inc.）和纳斯达克公司旗下的纽约证券交易所（New York Stock Exchange Inc.）将休市，因此不要关注道琼斯工业平均指数、标普500指数或纳斯达克综合指数等个股或指数的任何波动。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500指数在 2021 年已创下 54 个收盘历史新高，并有望在周五创下第 55 个收盘历史新高，而纳斯达克综合指数有望创下今年第 35 个历史新高。周五下午三点左右，道琼斯指数较 8 月 16 日的纪录上涨不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>固定收益证券行业贸易组织Sifma也建议劳动节债券市场休市，包括交易10年期国债，在美国8月就业报告弱于预期后，10年期国债收益率约为1.33%。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8 月份新增就业岗位 23.5 万个，远低于预期的 70 多万个，但未能降低主权债务投资者对美联储近期宣布缩减每月 1200 亿美元国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所大多数商品期货交易，包括 Nymex 原油和 Comex 黄金，也将于周一停止交易。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者来说还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>可能不会。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但道琼斯市场数据显示，近年来五月阵亡将士纪念日至九月劳动节期间对投资者来说是一个看涨时期。例如，道琼斯指数在此期间上涨了约 2%，平均上涨 1.3%，65% 的时间都创下了上涨纪录。道琼斯指数目前在过去六个阵亡将士纪念日/劳动节期间取得连胜，这是自1989年以来最长的连胜纪录。去年，市场在此期间上涨了近 15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜势头，在阵亡将士纪念日-劳动节期间迄今已上涨近 8%。过去几年同期上涨了 70% 以上，平均涨幅为 1.7%。2020 年同期，大盘指数上涨了 16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果说劳动节交易有一个真正的趋势，那可能就是 MarketWatch 的史蒂夫-戈尔茨坦（Steve Goldstein）援引雷蒙德-詹姆斯（Raymond James）策略师塔维斯-麦考特（Tavis McCourt）的话说，在过去两年中，节后股市存在很大的价值和周期性偏差，2018 年，市场在夏季结束后基本上崩溃了。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这次股市上涨是否会类似地消失，但华尔街越来越认为估值过高，股指将从当前高点回调至少 5% 或更多。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>周二市场将恢复正常交易，当然，包括伦敦富时 100 指数和泛欧斯托克欧洲 600 指数在内的欧洲证券交易所将于周一开盘，亚洲市场、日经 225 指数、香港恒生指数和上证综合指数也将开盘。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","ICE":"洲际交易所",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126654067","content_text":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.\nOn Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc. -owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average, S&P 500 or Nasdaq Composite indexes.\nThe S&P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite was on track to book its 35th all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.\nSifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was yielding around 1.33% after the U.S. August jobs report came in weaker than expected.\nHowever, the Labor Department’s employment report,which showed that 235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.\nTrading in most commodity futures, including Nymex crude-oil and Comex gold,on U.S. exchanges will also be halted Monday.\nIs there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?\nProbably not.\nBut the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.\nDOW JONES MARKET DATA\nThe S&P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.\nDOW JONES MARKET DATA\nBut if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.\nIt is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.\nMarkets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100 index and the pan-European Stoxx Europe 600 will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng and the Shanghai Composite Index.","news_type":1,"symbols_score_info":{".DJI":0.9,"ICE":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":986,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815917190,"gmtCreate":1630635172810,"gmtModify":1631887249759,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Stock will rise end of year","listText":"Stock will rise end of year","text":"Stock will rise end of year","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/815917190","repostId":"2164824410","repostType":4,"isVote":1,"tweetType":1,"viewCount":992,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812550348,"gmtCreate":1630596028084,"gmtModify":1631887249766,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Great news for fastly","listText":"Great news for fastly","text":"Great news for fastly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/812550348","repostId":"1166895425","repostType":4,"isVote":1,"tweetType":1,"viewCount":913,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818051586,"gmtCreate":1630367564745,"gmtModify":1704959099684,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Record high after record high but my portfolio is still in red&nbsp;","listText":"Record high after record high but my portfolio is still in red&nbsp;","text":"Record high after record high but my portfolio is still in red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818051586","repostId":"2163833181","repostType":4,"isVote":1,"tweetType":1,"viewCount":673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811988039,"gmtCreate":1630283805621,"gmtModify":1704957731446,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Reluctant to buy as the min lot can be crazy","listText":"Reluctant to buy as the min lot can be crazy","text":"Reluctant to buy as the min lot can be crazy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/811988039","repostId":"1117883263","repostType":4,"isVote":1,"tweetType":1,"viewCount":1019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813992681,"gmtCreate":1630118497143,"gmtModify":1704956233447,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Looking to see how well it will do","listText":"Looking to see how well it will do","text":"Looking to see how well it will do","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/813992681","repostId":"1162964424","repostType":4,"repost":{"id":"1162964424","kind":"news","pubTimestamp":1630111098,"share":"https://www.laohunote.com/m/news/1162964424?lang=zh_CN&edition=full","pubTime":"2021-08-28 08:38","market":"us","language":"en","title":"Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162964424","media":"TheStreet","summary":"Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.IPhone users thinking of upgrading their devices this year  should expect to reach deeper into their pockets. DigiTimes has reported that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.Bad news for consumers could be great news for Apple stock investors. If the price increase is con","content":"<p>Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.</p><p><blockquote>由于某些零部件价格上涨，苹果的 iPhone 13 可能会让消费者花费更多。这对用户来说是个坏消息，但对苹果股票投资者来说可能是个好消息。</blockquote></p><p> IPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has&nbsp;reported&nbsp;that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.</p><p><blockquote>考虑今年升级设备的IPhone用户（或那些希望转向基于iOS的产品的用户）应该期待他们的口袋更深。据 DigiTimes 报道，由于零部件通胀，苹果的 iPhone 13 可能会在下个月以更高的价格上市。</blockquote></p><p> Bad news for consumers could be great news for Apple stock&nbsp;investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.</p><p><blockquote>对消费者来说是坏消息，对苹果股票投资者来说可能是好消息。如果价格上涨得到证实，这将提供证据表明，在人们担心生产者和消费者价格上涨的时期，AAPL 可能是一个很好的通胀工具。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d6f4ac9ebc1b90072340731dc5c1e613\" tg-width=\"1240\" tg-height=\"698\" referrerpolicy=\"no-referrer\"><span>Figure 1: Apple's iPhone 12 Pro.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果的iPhone 12 Pro。</span></p></blockquote></p><p> <b>What happened?</b></p><p><blockquote><b>发生什么事了？</b></blockquote></p><p> The iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.</p><p><blockquote>iPhone已经被认为是一款昂贵的科技产品，在美国，满载的高端12 Pro Max型号的价格可能高达1400美元（见下图）。由于今年的零部件短缺，芯片制造商台积电可能会将其对苹果的零部件价格提高 3% 至 5%，这可能会导致尚未发布的 iPhone 13 的价格也出现类似的上涨。</blockquote></p><p> It is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.</p><p><blockquote>世界上最大、最成功的消费品公司之一不太可能在不确定这样做不会对新iPhone的需求产生实质性影响的情况下试图提高价格。苹果可能有能力提高价格，因为该公司了解其奢侈品牌的价值和吸引力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0140b9b68bb9eb5dd7e88aaff384785d\" tg-width=\"707\" tg-height=\"370\" referrerpolicy=\"no-referrer\"><span>Figure 2: iPhone 12 Pro on Apple's store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：苹果商店上的iPhone 12 Pro。</span></p></blockquote></p><p> <b>A quote from Jim Cramer</b></p><p><blockquote><b>吉姆·克莱默的一句话</b></blockquote></p><p> One of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.</p><p><blockquote>在可预见的未来，股市面临的最令人担忧的阻力之一是通货膨胀可能侵蚀企业利润率并导致 2021-2022 年利率上升。但如果生产者和消费者价格飙升，并非所有股票都会受到同等影响。</blockquote></p><p> Generally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that&nbsp;Mad Money’s Jim Cramer has made recently. Here is his quote:</p><p><blockquote>一般来说，拥有强大定价权、能够将较高生产成本转嫁给消费者的公司可能会跑赢大盘。这是 Mad Money 的吉姆-克莱默（Jim Cramer）最近提出的观点。以下是他的名言：</blockquote></p><p>   “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”  <b>The impact to the P&amp;L</b></p><p><blockquote>“当你试图思考这个市场上什么在起作用时......我想让你问问自己，如果公司实施涨价，你会对涨价麻木不仁吗？[有哪些]公司可以在不激怒你的情况下提高价格？去买他们的股票吧。”<b>对损益的影响</b></blockquote></p><p> Are higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.</p><p><blockquote>价格上涨对公司的财务业绩是好事还是坏事？答案是微妙的，取决于几个因素。</blockquote></p><p> Holding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.</p><p><blockquote>在其他条件不变的情况下，更高的价格也意味着更高的收入（想想销售公式：价格乘以数量）。如果价格上涨与产品或运营成本的增加脱钩，那么价格上涨也有助于提高利润率，从而提高利润。</blockquote></p><p> However, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.</p><p><blockquote>然而，“保持其他一切不变”并不是世界的真正运作方式。价格的变化往往会对几个关键变量产生影响，其中最重要的是需求。如果价格上涨对销量没有太大影响或根本没有影响，这对收入和最有可能的盈利来说都是个好消息。</blockquote></p><p> The other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.</p><p><blockquote>另一件要考虑的事情是价格上涨是完全还是仅部分抵消了更高的成本。假设后者，收入仍然可以受益，而不会对利润率和利润产生相应的积极影响。由于移动部件众多，因此很难确定价格更高的 iPhone 未来会对苹果的财务报表产生怎样的影响。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-08-28 08:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.</p><p><blockquote>由于某些零部件价格上涨，苹果的 iPhone 13 可能会让消费者花费更多。这对用户来说是个坏消息，但对苹果股票投资者来说可能是个好消息。</blockquote></p><p> IPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has&nbsp;reported&nbsp;that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.</p><p><blockquote>考虑今年升级设备的IPhone用户（或那些希望转向基于iOS的产品的用户）应该期待他们的口袋更深。据 DigiTimes 报道，由于零部件通胀，苹果的 iPhone 13 可能会在下个月以更高的价格上市。</blockquote></p><p> Bad news for consumers could be great news for Apple stock&nbsp;investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.</p><p><blockquote>对消费者来说是坏消息，对苹果股票投资者来说可能是好消息。如果价格上涨得到证实，这将提供证据表明，在人们担心生产者和消费者价格上涨的时期，AAPL 可能是一个很好的通胀工具。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d6f4ac9ebc1b90072340731dc5c1e613\" tg-width=\"1240\" tg-height=\"698\" referrerpolicy=\"no-referrer\"><span>Figure 1: Apple's iPhone 12 Pro.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果的iPhone 12 Pro。</span></p></blockquote></p><p> <b>What happened?</b></p><p><blockquote><b>发生什么事了？</b></blockquote></p><p> The iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.</p><p><blockquote>iPhone已经被认为是一款昂贵的科技产品，在美国，满载的高端12 Pro Max型号的价格可能高达1400美元（见下图）。由于今年的零部件短缺，芯片制造商台积电可能会将其对苹果的零部件价格提高 3% 至 5%，这可能会导致尚未发布的 iPhone 13 的价格也出现类似的上涨。</blockquote></p><p> It is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.</p><p><blockquote>世界上最大、最成功的消费品公司之一不太可能在不确定这样做不会对新iPhone的需求产生实质性影响的情况下试图提高价格。苹果可能有能力提高价格，因为该公司了解其奢侈品牌的价值和吸引力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0140b9b68bb9eb5dd7e88aaff384785d\" tg-width=\"707\" tg-height=\"370\" referrerpolicy=\"no-referrer\"><span>Figure 2: iPhone 12 Pro on Apple's store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：苹果商店上的iPhone 12 Pro。</span></p></blockquote></p><p> <b>A quote from Jim Cramer</b></p><p><blockquote><b>吉姆·克莱默的一句话</b></blockquote></p><p> One of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.</p><p><blockquote>在可预见的未来，股市面临的最令人担忧的阻力之一是通货膨胀可能侵蚀企业利润率并导致 2021-2022 年利率上升。但如果生产者和消费者价格飙升，并非所有股票都会受到同等影响。</blockquote></p><p> Generally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that&nbsp;Mad Money’s Jim Cramer has made recently. Here is his quote:</p><p><blockquote>一般来说，拥有强大定价权、能够将较高生产成本转嫁给消费者的公司可能会跑赢大盘。这是 Mad Money 的吉姆-克莱默（Jim Cramer）最近提出的观点。以下是他的名言：</blockquote></p><p>   “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”  <b>The impact to the P&amp;L</b></p><p><blockquote>“当你试图思考这个市场上什么在起作用时......我想让你问问自己，如果公司实施涨价，你会对涨价麻木不仁吗？[有哪些]公司可以在不激怒你的情况下提高价格？去买他们的股票吧。”<b>对损益的影响</b></blockquote></p><p> Are higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.</p><p><blockquote>价格上涨对公司的财务业绩是好事还是坏事？答案是微妙的，取决于几个因素。</blockquote></p><p> Holding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.</p><p><blockquote>在其他条件不变的情况下，更高的价格也意味着更高的收入（想想销售公式：价格乘以数量）。如果价格上涨与产品或运营成本的增加脱钩，那么价格上涨也有助于提高利润率，从而提高利润。</blockquote></p><p> However, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.</p><p><blockquote>然而，“保持其他一切不变”并不是世界的真正运作方式。价格的变化往往会对几个关键变量产生影响，其中最重要的是需求。如果价格上涨对销量没有太大影响或根本没有影响，这对收入和最有可能的盈利来说都是个好消息。</blockquote></p><p> The other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.</p><p><blockquote>另一件要考虑的事情是价格上涨是完全还是仅部分抵消了更高的成本。假设后者，收入仍然可以受益，而不会对利润率和利润产生相应的积极影响。由于移动部件众多，因此很难确定价格更高的 iPhone 未来会对苹果的财务报表产生怎样的影响。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/iphone/apple-stock-how-it-could-be-a-great-inflation-play\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/iphone/apple-stock-how-it-could-be-a-great-inflation-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162964424","content_text":"Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.\nIPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has reported that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.\nBad news for consumers could be great news for Apple stock investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.\nFigure 1: Apple's iPhone 12 Pro.\nWhat happened?\nThe iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.\nIt is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.\nFigure 2: iPhone 12 Pro on Apple's store.\nA quote from Jim Cramer\nOne of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.\nGenerally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that Mad Money’s Jim Cramer has made recently. Here is his quote:\n\n “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”\n\nThe impact to the P&L\nAre higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.\nHolding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.\nHowever, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.\nThe other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":834,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819587322,"gmtCreate":1630077646366,"gmtModify":1704955689764,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Happy seeing my Mara up","listText":"Happy seeing my Mara up","text":"Happy seeing my Mara up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819587322","repostId":"1199074003","repostType":4,"repost":{"id":"1199074003","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630077382,"share":"https://www.laohunote.com/m/news/1199074003?lang=zh_CN&edition=full","pubTime":"2021-08-27 23:16","market":"us","language":"en","title":"Crypto stocks surged in morning trading<blockquote>加密货币股票在早盘交易中飙升</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199074003","media":"Tiger Newspress","summary":"Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,","content":"<p>Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase&nbsp;and&nbsp;Paypal&nbsp;climbed between 1% and 13%.</p><p><blockquote>加密股票在早盘交易中飙升.Bit Digital、Marathon Digital、Riot Blockchain、SoS Ltd、Square、比特币基地和Paypal上涨了1%至13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67735af69f95f6a88ee67ae3737e58c0\" tg-width=\"364\" tg-height=\"715\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto stocks surged in morning trading<blockquote>加密货币股票在早盘交易中飙升</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto stocks surged in morning trading<blockquote>加密货币股票在早盘交易中飙升</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-27 23:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase&nbsp;and&nbsp;Paypal&nbsp;climbed between 1% and 13%.</p><p><blockquote>加密股票在早盘交易中飙升.Bit Digital、Marathon Digital、Riot Blockchain、SoS Ltd、Square、比特币基地和Paypal上涨了1%至13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67735af69f95f6a88ee67ae3737e58c0\" tg-width=\"364\" tg-height=\"715\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTBT":"Bit Digital, Inc.","COIN":"Coinbase Global, Inc.","SOS":"SOS Limited","MARA":"MARA Holdings","RIOT":"Riot Platforms","EBON":"亿邦国际","NCTY":"第九城市","CAN":"嘉楠科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199074003","content_text":"Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase and Paypal climbed between 1% and 13%.","news_type":1,"symbols_score_info":{"NCTY":0.9,"EBON":0.9,"RIOT":0.9,"SOS":0.9,"MARA":0.9,"BTBT":0.9,"COIN":0.9,"BTCM":0.9,"SQ":0.9,"CAN":0.9}},"isVote":1,"tweetType":1,"viewCount":860,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837187659,"gmtCreate":1629864952871,"gmtModify":1631891412476,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Need more green days like this","listText":"Need more green days like this","text":"Need more green days like 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good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834906651","repostId":"2161770255","repostType":4,"isVote":1,"tweetType":1,"viewCount":973,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":366677738,"gmtCreate":1614482144324,"gmtModify":1703477748964,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>will next week be great week for NIO?","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>will next week be great week for NIO?","text":"$NIO Inc.(NIO)$will next week be great week for NIO?","images":[{"img":"https://static.tigerbbs.com/493ffda30767325a1baed617253f0885","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/366677738","isVote":1,"tweetType":1,"viewCount":1644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":373462812,"gmtCreate":1618878757836,"gmtModify":1631885489754,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Time to buy tesla","listText":"Time to buy tesla","text":"Time to buy tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/373462812","repostId":"2128689062","repostType":4,"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136311934,"gmtCreate":1621994075028,"gmtModify":1634184882613,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Market is so sensitive now","listText":"Market is so sensitive now","text":"Market is so sensitive now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/136311934","repostId":"2138196079","repostType":4,"isVote":1,"tweetType":1,"viewCount":755,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142325331,"gmtCreate":1626133634523,"gmtModify":1633929884490,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Tesla will be the stock of the year again","listText":"Tesla will be the stock of the year again","text":"Tesla will be the stock of the year again","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142325331","repostId":"1175242446","repostType":4,"repost":{"id":"1175242446","kind":"news","pubTimestamp":1626133452,"share":"https://www.laohunote.com/m/news/1175242446?lang=zh_CN&edition=full","pubTime":"2021-07-13 07:44","market":"us","language":"en","title":"Elon Musk Defends SolarCity Deal, Says of Being Tesla Boss: ‘I Rather Hate It’<blockquote>埃隆-马斯克为 SolarCity 交易辩护，称自己是特斯拉的老板： 我相当讨厌它</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175242446","media":"The Wall Street Journal","summary":"Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.\n","content":"<p>  Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.  WILMINGTON, Del.—TeslaInc.TSLA4.38%Chief ExecutiveElon Muskwas in court Monday to defend the company’s purchase of SolarCity Corp., telling a judge that he didn’t act improperly during the negotiating process and doesn’t even enjoy running the electric-vehicle maker.</p><p><blockquote>原告指控亿万富翁企业家在2016年领导特斯拉为这家家用太阳能公司支付过高的费用。特拉华州威尔明顿--特斯拉INC.TSLA4.38%首席执行官埃隆-马斯克（Elon Muskwas）周一出庭为公司收购 SolarCity Corp.</blockquote></p><p> The case dates to 2016, when Mr. Musk was chairman of both companies, both of them unprofitable at the time. His solution: Combine them ina roughly $2.1 billion tie-upto establish a single clean-energy business. Plaintiffs, which include pension funds that owned Tesla stock, have characterized the deal as a scheme to benefit himself and bail out a home-solar company on the verge of insolvency.</p><p><blockquote>该案可追溯到 2016 年，当时马斯克担任两家公司的董事长，但当时两家公司都没有盈利。他的解决方案是：将它们合并成大约 21 亿美元的合并，建立一个单一的清洁能源业务。包括拥有特斯拉股票的养老基金在内的原告将这笔交易描述为一项为自己谋利并救助一家濒临破产的家用太阳能公司的计划。</blockquote></p><p> Mr. Musk, the opening and only witness in the first day in a nonjury trial in the Delaware Chancery Court, is scheduled to return to the stand Tuesday. He defended his actions in roughly five hours of testimony, saying the SolarCity purchase was crucial tothe sustainable-energy strategyhe had envisioned for Tesla for a decade.</p><p><blockquote>马斯克是特拉华州衡平法院非陪审团审判第一天的开庭证人，也是唯一的证人，他定于周二返回出庭。他在大约五个小时的证词中为自己的行为辩护，称收购 SolarCity 对于他十年来为特斯拉设想的可持续能源战略至关重要。</blockquote></p><p> “I don’t think SolarCity was financially troubled,” Mr. Musk said. “In order to have a compelling product, you really needed to have a tightly integrated solar and battery solution. And we could not create a well integrated product if SolarCity was a separate company.”</p><p><blockquote>“马斯克先生说：”我不认为 SolarCity 有财务问题。“要想拥有一款引人注目的产品，你真的需要一个紧密集成的太阳能和电池解决方案。如果 SolarCity 是一家独立的公司，我们就无法创造出一款集成良好的产品。”</blockquote></p><p> A primary question in the case is whether Mr. Musk, who owned roughly 22% of Tesla at the time, controlled the transaction. Proving the claim is a challenge because Mr. Musk was a minority shareholder of Tesla and the company’s shareholders approved the acquisition. Lawyers for Mr. Musk have said that SolarCity was worth more than Tesla paid for it and the electric-vehicle maker’s board members, who included Mr. Musk’s brother, Kimbal Musk, acted independently.</p><p><blockquote>此案的一个主要问题是，当时拥有特斯拉约 22% 股份的马斯克是否控制了这笔交易。证明这一说法是一项挑战，因为马斯克先生是特斯拉的少数股东，而公司股东批准了此次收购。马斯克先生的律师表示，SolarCity 的价值高于特斯拉为其支付的价格，这家电动汽车制造商的董事会成员（包括马斯克先生的兄弟金巴尔-马斯克）也是独立行事的。</blockquote></p><p> The billionaire CEO, who has a record of sometimes blunt and surprising statements, said Monday that he didn’t enjoy being the boss of Tesla. “I rather hate it and I would much prefer to spend my time on design and engineering, which is what intrinsically I like doing,” he said.</p><p><blockquote>这位亿万富翁首席执行官有时会发表直言不讳和出人意料的言论，他周一表示，他并不喜欢担任特斯拉的老板。“他说：”我很讨厌它，我更愿意把时间花在设计和工程上，而这正是我本质上喜欢做的事情。</blockquote></p><p> Mr. Musk made the comment after opposing counsel tried to show how his “force of will” and faith in his view of Tesla’s future illustrated his ability to control the SolarCity transaction.</p><p><blockquote>马斯克先生是在对方律师试图展示他的 “意志力 ”和对特斯拉未来看法的信心如何说明他有能力控制 SolarCity 交易之后发表上述评论的。</blockquote></p><p> Other issues before the judge include whether Tesla board members, some of whom also were SolarCity shareholders personally or through investment funds they managed, were conflicted and whether vital information about the deal was withheld from shareholders. Mr. Musk testified that an independent director handled the negotiation and that Tesla’s directors even overruled his proposal that Tesla provide temporary financing to SolarCity before the deal went through.</p><p><blockquote>法官面前的其他问题包括特斯拉董事会成员（其中一些人本人或通过他们管理的投资基金也是 SolarCity 的股东）是否存在冲突，以及是否向股东隐瞒了有关该交易的重要信息。马斯克先生作证说，一名独立董事负责谈判，特斯拉的董事甚至否决了他提出的特斯拉在交易通过前向 SolarCity 提供临时融资的提议。</blockquote></p><p> Mr. Musk spoke in a calm and sometimes quiet tone as he answered his lawyer’s questions. He became more energetic when he fielded questions from Randall Baron, a lawyer for the plaintiffs. Mr. Baron pressed Mr. Musk on whether he dominated Tesla, handpicked its board members and made decisions without directors’ involvement.</p><p><blockquote>马斯克先生在回答律师提问时语气平静，有时甚至安静。当他回答原告律师兰德尔·巴伦的问题时，他变得更加精力充沛。巴伦先生向马斯克先生施压，询问他是否主导了特斯拉，是否亲自挑选了董事会成员，是否在没有董事参与的情况下做出了决定。</blockquote></p><p> Mr. Musk has already displayed flashes of hissometimes combative naturein the case, making for a confrontational witness in a 2019 deposition, calling Mr. Baron “reprehensible” for “attacking sustainable energy.”</p><p><blockquote>马斯克先生已经在此案中表现出了他有时好斗的本性，在 2019 年的证词中成为一名对抗性证人，称巴伦先生 “攻击可持续能源 ”是 “应受谴责的 ”。</blockquote></p><p> To explain the behavior, Mr. Musk told the court he didn’t respect Mr. Baron because the lawyer had once worked at a law firm whose partners becameengulfed in an ethics scandaland went to prison over their misdeeds. “I think you are a bad human being,” Mr. Musk said to Mr. Baron.</p><p><blockquote>为了解释这一行为，马斯克先生告诉法庭，他不尊重巴伦先生，因为这位律师曾在一家律师事务所工作，该事务所的合伙人卷入了道德丑闻，并因不当行为入狱。“马斯克先生对巴伦先生说：”我认为你是个坏人。</blockquote></p><p> Mr. Baron asked Mr. Musk why SolarCity’s performance varied significantly from the projections that Tesla gave to shareholders in 2016. Mr. Musk blamed the decline in solar-panel installation and market share to Tesla’s pressing need to focus on developing its Model 3 car in 2017 and 2018. Tesla at the time wasstruggling to bring the car to market.</p><p><blockquote>巴伦先生问马斯克先生，为什么 SolarCity 的业绩与特斯拉在 2016 年对股东的预测有很大差异。马斯克先生将太阳能电池板安装量和市场份额的下降归咎于特斯拉迫切需要在2017年和2018年集中精力开发Model 3汽车。特斯拉当时正在努力将这款车推向市场。</blockquote></p><p> “Those were the three hardest years of my entire career,” he said, later calling the period excruciating. “The company was in dire straits. Many of the times I thought we were out of the woods, we were not.”</p><p><blockquote>“他说：”那是我整个职业生涯中最艰难的三年。“公司陷入困境。很多时候，我以为我们已经走出了困境，但我们并没有。”</blockquote></p><p> More recently, Mr. Musk said, the coronavirus pandemic hurt Tesla’s ability to get permits for residential solar installations.</p><p><blockquote>马斯克先生说，最近，冠状病毒大流行损害了特斯拉获得住宅太阳能装置许可的能力。</blockquote></p><p> If Mr. Musk loses, he could be asked to make Tesla whole. That payment could equal the value of the SolarCity transaction if the presiding judge finds that the solar firm wasn’t worth anything when Tesla agreed to buy it.</p><p><blockquote>如果马斯克输了，他可能会被要求让特斯拉完整。如果主审法官发现这家太阳能公司在特斯拉同意收购时一文不值，那么这笔款项可能相当于 SolarCity 交易的价值。</blockquote></p><p> The trial has been delayed for more than a year because of the pandemic and is expected to last two weeks.</p><p><blockquote>由于疫情，审判已经推迟了一年多，预计将持续两周。</blockquote></p><p> Other Tesla board members at the time of the tie-up agreed to settle last year for a combined $60 million, paid by insurance. The board members, some of whom had interests in both Tesla and SolarCity, denied wrongdoing.</p><p><blockquote>合作时的其他特斯拉董事会成员去年同意以总计 6000 万美元的赔偿达成和解，由保险支付。董事会成员（其中一些人在特斯拉和 SolarCity 都有利益）否认有不当行为。</blockquote></p><p></p><p> Mr. Musk brought the proposed deal to Tesla’s board in early 2016, court records show. The plaintiffs describe SolarCity as having been in severe financial distress leading up to the deal, at risk of tripping a debt covenant and without other fundraising options. Shareholders weren’t fully informed of the company’s condition, they say.</p><p><blockquote>法庭记录显示，马斯克先生于 2016 年初向特斯拉董事会提交了拟议的交易。原告称，SolarCity在交易前一直处于严重的财务困境，面临着债务契约失败的风险，并且没有其他融资选择。他们说，股东并没有完全了解公司的状况。</blockquote></p><p> Mr. Baron pressed that point Monday, asking Mr. Musk about internal emails and meetings that discussed efforts to save money by delaying payments to vendors and other moves. The attorney also asked whether he was aware thatLazardLtd.bankers had tried to raise money for SolarCity in 2016 and found most of the private investors they surveyed to be unreceptive.</p><p><blockquote>巴伦周一强调了这一点，询问马斯克有关内部电子邮件和会议的情况，这些电子邮件和会议讨论了通过推迟向供应商付款和其他举措来节省资金的努力。该律师还询问他是否知道 LazardLtd. 银行家曾在 2016 年试图为 SolarCity 筹集资金，并发现他们调查的大多数私人投资者都不接受。</blockquote></p><p> Mr. Musk said Tesla also occasionally took such steps to conserve cash. He said SolarCity could have raised money from private investors if it had more time to do so, and ultimately could have sold stock to public investors.</p><p><blockquote>马斯克表示，特斯拉偶尔也会采取此类措施来节省现金。他表示，如果有更多时间，SolarCity 本可以从私人投资者那里筹集资金，并最终将股票出售给公众投资者。</blockquote></p><p> If chancery court Vice Chancellor Joseph Slights III, the presiding judge, finds Mr. Musk didn’t control the deal, the case is likely over for the plaintiffs, said Lawrence Hamermesh, executive director of the Institute for Law and Economics at the University of Pennsylvania’s Carey Law School.</p><p><blockquote>宾夕法尼亚大学凯里法学院法律与经济研究所执行主任劳伦斯-哈默梅什（Lawrence Hamermesh）说，如果大法官法院副院长约瑟夫-斯莱茨三世（Joseph Slights III）认定马斯克先生没有控制这笔交易，那么原告的案件很可能就结束了。</blockquote></p><p> Case law in Delaware generally defers to the business judgment of independent and properly motivated directors. On the other hand, if the evidence points to control, the court would assess whether the deal process and price were fair and, if not, whether Mr. Musk should be ordered to pay money back to Tesla, Mr. Hamermesh said.</p><p><blockquote>特拉华州的判例法通常遵循独立且有适当动机的董事的商业判断。哈默梅什表示，另一方面，如果证据指向控制，法院将评估交易过程和价格是否公平，如果不公平，是否应命令马斯克向特斯拉退款。</blockquote></p><p> For Mr. Musk, who now ranks among the world’s wealthiest people, the optics of a loss likely would be more meaningful than any court-ordered financial judgment, said Seth Goldstein, an analyst for Morningstar Research Services LLC.</p><p><blockquote>晨星研究服务有限责任公司（Morningstar Research Services LLC）分析师塞斯-戈尔茨坦（Seth Goldstein）说，对于现在跻身世界首富之列的马斯克先生来说，亏损的前景可能比法院下令的任何财务判决都更有意义。</blockquote></p><p> “You could see the board become extra diligent with regard to acquisitions that aren’t in Tesla’s current, existing industries,” Mr. Goldstein said.</p><p><blockquote>“戈尔茨坦先生说：”你可以看到董事会在收购特斯拉现有行业之外的业务方面变得格外勤奋。</blockquote></p><p> Tesla investors also have enjoyed a change in fortunes since the takeover first surfaced. The vehicle makerposted its first full-year of profit in 2020. The stock, which traded at around $44when Tesla proposed buying SolarCity, closed Monday at around $686, up 4.38% on the day.</p><p><blockquote>自收购首次浮出水面以来，特斯拉投资者的命运也发生了变化。这家汽车制造商在 2020 年公布了首个全年盈利。当特斯拉提议收购 SolarCity 时，该股的交易价格约为 44 美元，周一收盘价约为 686 美元，当天上涨 4.38%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk Defends SolarCity Deal, Says of Being Tesla Boss: ‘I Rather Hate It’<blockquote>埃隆-马斯克为 SolarCity 交易辩护，称自己是特斯拉的老板： 我相当讨厌它</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk Defends SolarCity Deal, Says of Being Tesla Boss: ‘I Rather Hate It’<blockquote>埃隆-马斯克为 SolarCity 交易辩护，称自己是特斯拉的老板： 我相当讨厌它</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-07-13 07:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.  WILMINGTON, Del.—TeslaInc.TSLA4.38%Chief ExecutiveElon Muskwas in court Monday to defend the company’s purchase of SolarCity Corp., telling a judge that he didn’t act improperly during the negotiating process and doesn’t even enjoy running the electric-vehicle maker.</p><p><blockquote>原告指控亿万富翁企业家在2016年领导特斯拉为这家家用太阳能公司支付过高的费用。特拉华州威尔明顿--特斯拉INC.TSLA4.38%首席执行官埃隆-马斯克（Elon Muskwas）周一出庭为公司收购 SolarCity Corp.</blockquote></p><p> The case dates to 2016, when Mr. Musk was chairman of both companies, both of them unprofitable at the time. His solution: Combine them ina roughly $2.1 billion tie-upto establish a single clean-energy business. Plaintiffs, which include pension funds that owned Tesla stock, have characterized the deal as a scheme to benefit himself and bail out a home-solar company on the verge of insolvency.</p><p><blockquote>该案可追溯到 2016 年，当时马斯克担任两家公司的董事长，但当时两家公司都没有盈利。他的解决方案是：将它们合并成大约 21 亿美元的合并，建立一个单一的清洁能源业务。包括拥有特斯拉股票的养老基金在内的原告将这笔交易描述为一项为自己谋利并救助一家濒临破产的家用太阳能公司的计划。</blockquote></p><p> Mr. Musk, the opening and only witness in the first day in a nonjury trial in the Delaware Chancery Court, is scheduled to return to the stand Tuesday. He defended his actions in roughly five hours of testimony, saying the SolarCity purchase was crucial tothe sustainable-energy strategyhe had envisioned for Tesla for a decade.</p><p><blockquote>马斯克是特拉华州衡平法院非陪审团审判第一天的开庭证人，也是唯一的证人，他定于周二返回出庭。他在大约五个小时的证词中为自己的行为辩护，称收购 SolarCity 对于他十年来为特斯拉设想的可持续能源战略至关重要。</blockquote></p><p> “I don’t think SolarCity was financially troubled,” Mr. Musk said. “In order to have a compelling product, you really needed to have a tightly integrated solar and battery solution. And we could not create a well integrated product if SolarCity was a separate company.”</p><p><blockquote>“马斯克先生说：”我不认为 SolarCity 有财务问题。“要想拥有一款引人注目的产品，你真的需要一个紧密集成的太阳能和电池解决方案。如果 SolarCity 是一家独立的公司，我们就无法创造出一款集成良好的产品。”</blockquote></p><p> A primary question in the case is whether Mr. Musk, who owned roughly 22% of Tesla at the time, controlled the transaction. Proving the claim is a challenge because Mr. Musk was a minority shareholder of Tesla and the company’s shareholders approved the acquisition. Lawyers for Mr. Musk have said that SolarCity was worth more than Tesla paid for it and the electric-vehicle maker’s board members, who included Mr. Musk’s brother, Kimbal Musk, acted independently.</p><p><blockquote>此案的一个主要问题是，当时拥有特斯拉约 22% 股份的马斯克是否控制了这笔交易。证明这一说法是一项挑战，因为马斯克先生是特斯拉的少数股东，而公司股东批准了此次收购。马斯克先生的律师表示，SolarCity 的价值高于特斯拉为其支付的价格，这家电动汽车制造商的董事会成员（包括马斯克先生的兄弟金巴尔-马斯克）也是独立行事的。</blockquote></p><p> The billionaire CEO, who has a record of sometimes blunt and surprising statements, said Monday that he didn’t enjoy being the boss of Tesla. “I rather hate it and I would much prefer to spend my time on design and engineering, which is what intrinsically I like doing,” he said.</p><p><blockquote>这位亿万富翁首席执行官有时会发表直言不讳和出人意料的言论，他周一表示，他并不喜欢担任特斯拉的老板。“他说：”我很讨厌它，我更愿意把时间花在设计和工程上，而这正是我本质上喜欢做的事情。</blockquote></p><p> Mr. Musk made the comment after opposing counsel tried to show how his “force of will” and faith in his view of Tesla’s future illustrated his ability to control the SolarCity transaction.</p><p><blockquote>马斯克先生是在对方律师试图展示他的 “意志力 ”和对特斯拉未来看法的信心如何说明他有能力控制 SolarCity 交易之后发表上述评论的。</blockquote></p><p> Other issues before the judge include whether Tesla board members, some of whom also were SolarCity shareholders personally or through investment funds they managed, were conflicted and whether vital information about the deal was withheld from shareholders. Mr. Musk testified that an independent director handled the negotiation and that Tesla’s directors even overruled his proposal that Tesla provide temporary financing to SolarCity before the deal went through.</p><p><blockquote>法官面前的其他问题包括特斯拉董事会成员（其中一些人本人或通过他们管理的投资基金也是 SolarCity 的股东）是否存在冲突，以及是否向股东隐瞒了有关该交易的重要信息。马斯克先生作证说，一名独立董事负责谈判，特斯拉的董事甚至否决了他提出的特斯拉在交易通过前向 SolarCity 提供临时融资的提议。</blockquote></p><p> Mr. Musk spoke in a calm and sometimes quiet tone as he answered his lawyer’s questions. He became more energetic when he fielded questions from Randall Baron, a lawyer for the plaintiffs. Mr. Baron pressed Mr. Musk on whether he dominated Tesla, handpicked its board members and made decisions without directors’ involvement.</p><p><blockquote>马斯克先生在回答律师提问时语气平静，有时甚至安静。当他回答原告律师兰德尔·巴伦的问题时，他变得更加精力充沛。巴伦先生向马斯克先生施压，询问他是否主导了特斯拉，是否亲自挑选了董事会成员，是否在没有董事参与的情况下做出了决定。</blockquote></p><p> Mr. Musk has already displayed flashes of hissometimes combative naturein the case, making for a confrontational witness in a 2019 deposition, calling Mr. Baron “reprehensible” for “attacking sustainable energy.”</p><p><blockquote>马斯克先生已经在此案中表现出了他有时好斗的本性，在 2019 年的证词中成为一名对抗性证人，称巴伦先生 “攻击可持续能源 ”是 “应受谴责的 ”。</blockquote></p><p> To explain the behavior, Mr. Musk told the court he didn’t respect Mr. Baron because the lawyer had once worked at a law firm whose partners becameengulfed in an ethics scandaland went to prison over their misdeeds. “I think you are a bad human being,” Mr. Musk said to Mr. Baron.</p><p><blockquote>为了解释这一行为，马斯克先生告诉法庭，他不尊重巴伦先生，因为这位律师曾在一家律师事务所工作，该事务所的合伙人卷入了道德丑闻，并因不当行为入狱。“马斯克先生对巴伦先生说：”我认为你是个坏人。</blockquote></p><p> Mr. Baron asked Mr. Musk why SolarCity’s performance varied significantly from the projections that Tesla gave to shareholders in 2016. Mr. Musk blamed the decline in solar-panel installation and market share to Tesla’s pressing need to focus on developing its Model 3 car in 2017 and 2018. Tesla at the time wasstruggling to bring the car to market.</p><p><blockquote>巴伦先生问马斯克先生，为什么 SolarCity 的业绩与特斯拉在 2016 年对股东的预测有很大差异。马斯克先生将太阳能电池板安装量和市场份额的下降归咎于特斯拉迫切需要在2017年和2018年集中精力开发Model 3汽车。特斯拉当时正在努力将这款车推向市场。</blockquote></p><p> “Those were the three hardest years of my entire career,” he said, later calling the period excruciating. “The company was in dire straits. Many of the times I thought we were out of the woods, we were not.”</p><p><blockquote>“他说：”那是我整个职业生涯中最艰难的三年。“公司陷入困境。很多时候，我以为我们已经走出了困境，但我们并没有。”</blockquote></p><p> More recently, Mr. Musk said, the coronavirus pandemic hurt Tesla’s ability to get permits for residential solar installations.</p><p><blockquote>马斯克先生说，最近，冠状病毒大流行损害了特斯拉获得住宅太阳能装置许可的能力。</blockquote></p><p> If Mr. Musk loses, he could be asked to make Tesla whole. That payment could equal the value of the SolarCity transaction if the presiding judge finds that the solar firm wasn’t worth anything when Tesla agreed to buy it.</p><p><blockquote>如果马斯克输了，他可能会被要求让特斯拉完整。如果主审法官发现这家太阳能公司在特斯拉同意收购时一文不值，那么这笔款项可能相当于 SolarCity 交易的价值。</blockquote></p><p> The trial has been delayed for more than a year because of the pandemic and is expected to last two weeks.</p><p><blockquote>由于疫情，审判已经推迟了一年多，预计将持续两周。</blockquote></p><p> Other Tesla board members at the time of the tie-up agreed to settle last year for a combined $60 million, paid by insurance. The board members, some of whom had interests in both Tesla and SolarCity, denied wrongdoing.</p><p><blockquote>合作时的其他特斯拉董事会成员去年同意以总计 6000 万美元的赔偿达成和解，由保险支付。董事会成员（其中一些人在特斯拉和 SolarCity 都有利益）否认有不当行为。</blockquote></p><p></p><p> Mr. Musk brought the proposed deal to Tesla’s board in early 2016, court records show. The plaintiffs describe SolarCity as having been in severe financial distress leading up to the deal, at risk of tripping a debt covenant and without other fundraising options. Shareholders weren’t fully informed of the company’s condition, they say.</p><p><blockquote>法庭记录显示，马斯克先生于 2016 年初向特斯拉董事会提交了拟议的交易。原告称，SolarCity在交易前一直处于严重的财务困境，面临着债务契约失败的风险，并且没有其他融资选择。他们说，股东并没有完全了解公司的状况。</blockquote></p><p> Mr. Baron pressed that point Monday, asking Mr. Musk about internal emails and meetings that discussed efforts to save money by delaying payments to vendors and other moves. The attorney also asked whether he was aware thatLazardLtd.bankers had tried to raise money for SolarCity in 2016 and found most of the private investors they surveyed to be unreceptive.</p><p><blockquote>巴伦周一强调了这一点，询问马斯克有关内部电子邮件和会议的情况，这些电子邮件和会议讨论了通过推迟向供应商付款和其他举措来节省资金的努力。该律师还询问他是否知道 LazardLtd. 银行家曾在 2016 年试图为 SolarCity 筹集资金，并发现他们调查的大多数私人投资者都不接受。</blockquote></p><p> Mr. Musk said Tesla also occasionally took such steps to conserve cash. He said SolarCity could have raised money from private investors if it had more time to do so, and ultimately could have sold stock to public investors.</p><p><blockquote>马斯克表示，特斯拉偶尔也会采取此类措施来节省现金。他表示，如果有更多时间，SolarCity 本可以从私人投资者那里筹集资金，并最终将股票出售给公众投资者。</blockquote></p><p> If chancery court Vice Chancellor Joseph Slights III, the presiding judge, finds Mr. Musk didn’t control the deal, the case is likely over for the plaintiffs, said Lawrence Hamermesh, executive director of the Institute for Law and Economics at the University of Pennsylvania’s Carey Law School.</p><p><blockquote>宾夕法尼亚大学凯里法学院法律与经济研究所执行主任劳伦斯-哈默梅什（Lawrence Hamermesh）说，如果大法官法院副院长约瑟夫-斯莱茨三世（Joseph Slights III）认定马斯克先生没有控制这笔交易，那么原告的案件很可能就结束了。</blockquote></p><p> Case law in Delaware generally defers to the business judgment of independent and properly motivated directors. On the other hand, if the evidence points to control, the court would assess whether the deal process and price were fair and, if not, whether Mr. Musk should be ordered to pay money back to Tesla, Mr. Hamermesh said.</p><p><blockquote>特拉华州的判例法通常遵循独立且有适当动机的董事的商业判断。哈默梅什表示，另一方面，如果证据指向控制，法院将评估交易过程和价格是否公平，如果不公平，是否应命令马斯克向特斯拉退款。</blockquote></p><p> For Mr. Musk, who now ranks among the world’s wealthiest people, the optics of a loss likely would be more meaningful than any court-ordered financial judgment, said Seth Goldstein, an analyst for Morningstar Research Services LLC.</p><p><blockquote>晨星研究服务有限责任公司（Morningstar Research Services LLC）分析师塞斯-戈尔茨坦（Seth Goldstein）说，对于现在跻身世界首富之列的马斯克先生来说，亏损的前景可能比法院下令的任何财务判决都更有意义。</blockquote></p><p> “You could see the board become extra diligent with regard to acquisitions that aren’t in Tesla’s current, existing industries,” Mr. Goldstein said.</p><p><blockquote>“戈尔茨坦先生说：”你可以看到董事会在收购特斯拉现有行业之外的业务方面变得格外勤奋。</blockquote></p><p> Tesla investors also have enjoyed a change in fortunes since the takeover first surfaced. The vehicle makerposted its first full-year of profit in 2020. The stock, which traded at around $44when Tesla proposed buying SolarCity, closed Monday at around $686, up 4.38% on the day.</p><p><blockquote>自收购首次浮出水面以来，特斯拉投资者的命运也发生了变化。这家汽车制造商在 2020 年公布了首个全年盈利。当特斯拉提议收购 SolarCity 时，该股的交易价格约为 44 美元，周一收盘价约为 686 美元，当天上涨 4.38%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/elon-musk-takes-stand-in-court-to-defend-purchase-of-solarcity-11626098958?mod=hp_lead_pos3\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.wsj.com/articles/elon-musk-takes-stand-in-court-to-defend-purchase-of-solarcity-11626098958?mod=hp_lead_pos3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175242446","content_text":"Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.\n\nWILMINGTON, Del.—TeslaInc.TSLA4.38%Chief ExecutiveElon Muskwas in court Monday to defend the company’s purchase of SolarCity Corp., telling a judge that he didn’t act improperly during the negotiating process and doesn’t even enjoy running the electric-vehicle maker.\nThe case dates to 2016, when Mr. Musk was chairman of both companies, both of them unprofitable at the time. His solution: Combine them ina roughly $2.1 billion tie-upto establish a single clean-energy business. Plaintiffs, which include pension funds that owned Tesla stock, have characterized the deal as a scheme to benefit himself and bail out a home-solar company on the verge of insolvency.\nMr. Musk, the opening and only witness in the first day in a nonjury trial in the Delaware Chancery Court, is scheduled to return to the stand Tuesday. He defended his actions in roughly five hours of testimony, saying the SolarCity purchase was crucial tothe sustainable-energy strategyhe had envisioned for Tesla for a decade.\n“I don’t think SolarCity was financially troubled,” Mr. Musk said. “In order to have a compelling product, you really needed to have a tightly integrated solar and battery solution. And we could not create a well integrated product if SolarCity was a separate company.”\nA primary question in the case is whether Mr. Musk, who owned roughly 22% of Tesla at the time, controlled the transaction. Proving the claim is a challenge because Mr. Musk was a minority shareholder of Tesla and the company’s shareholders approved the acquisition. Lawyers for Mr. Musk have said that SolarCity was worth more than Tesla paid for it and the electric-vehicle maker’s board members, who included Mr. Musk’s brother, Kimbal Musk, acted independently.\nThe billionaire CEO, who has a record of sometimes blunt and surprising statements, said Monday that he didn’t enjoy being the boss of Tesla. “I rather hate it and I would much prefer to spend my time on design and engineering, which is what intrinsically I like doing,” he said.\nMr. Musk made the comment after opposing counsel tried to show how his “force of will” and faith in his view of Tesla’s future illustrated his ability to control the SolarCity transaction.\nOther issues before the judge include whether Tesla board members, some of whom also were SolarCity shareholders personally or through investment funds they managed, were conflicted and whether vital information about the deal was withheld from shareholders. Mr. Musk testified that an independent director handled the negotiation and that Tesla’s directors even overruled his proposal that Tesla provide temporary financing to SolarCity before the deal went through.\nMr. Musk spoke in a calm and sometimes quiet tone as he answered his lawyer’s questions. He became more energetic when he fielded questions from Randall Baron, a lawyer for the plaintiffs. Mr. Baron pressed Mr. Musk on whether he dominated Tesla, handpicked its board members and made decisions without directors’ involvement.\nMr. Musk has already displayed flashes of hissometimes combative naturein the case, making for a confrontational witness in a 2019 deposition, calling Mr. Baron “reprehensible” for “attacking sustainable energy.”\nTo explain the behavior, Mr. Musk told the court he didn’t respect Mr. Baron because the lawyer had once worked at a law firm whose partners becameengulfed in an ethics scandaland went to prison over their misdeeds. “I think you are a bad human being,” Mr. Musk said to Mr. Baron.\nMr. Baron asked Mr. Musk why SolarCity’s performance varied significantly from the projections that Tesla gave to shareholders in 2016. Mr. Musk blamed the decline in solar-panel installation and market share to Tesla’s pressing need to focus on developing its Model 3 car in 2017 and 2018. Tesla at the time wasstruggling to bring the car to market.\n“Those were the three hardest years of my entire career,” he said, later calling the period excruciating. “The company was in dire straits. Many of the times I thought we were out of the woods, we were not.”\nMore recently, Mr. Musk said, the coronavirus pandemic hurt Tesla’s ability to get permits for residential solar installations.\nIf Mr. Musk loses, he could be asked to make Tesla whole. That payment could equal the value of the SolarCity transaction if the presiding judge finds that the solar firm wasn’t worth anything when Tesla agreed to buy it.\nThe trial has been delayed for more than a year because of the pandemic and is expected to last two weeks.\nOther Tesla board members at the time of the tie-up agreed to settle last year for a combined $60 million, paid by insurance. The board members, some of whom had interests in both Tesla and SolarCity, denied wrongdoing.\nMr. Musk brought the proposed deal to Tesla’s board in early 2016, court records show. The plaintiffs describe SolarCity as having been in severe financial distress leading up to the deal, at risk of tripping a debt covenant and without other fundraising options. Shareholders weren’t fully informed of the company’s condition, they say.\nMr. Baron pressed that point Monday, asking Mr. Musk about internal emails and meetings that discussed efforts to save money by delaying payments to vendors and other moves. The attorney also asked whether he was aware thatLazardLtd.bankers had tried to raise money for SolarCity in 2016 and found most of the private investors they surveyed to be unreceptive.\nMr. Musk said Tesla also occasionally took such steps to conserve cash. He said SolarCity could have raised money from private investors if it had more time to do so, and ultimately could have sold stock to public investors.\nIf chancery court Vice Chancellor Joseph Slights III, the presiding judge, finds Mr. Musk didn’t control the deal, the case is likely over for the plaintiffs, said Lawrence Hamermesh, executive director of the Institute for Law and Economics at the University of Pennsylvania’s Carey Law School.\nCase law in Delaware generally defers to the business judgment of independent and properly motivated directors. On the other hand, if the evidence points to control, the court would assess whether the deal process and price were fair and, if not, whether Mr. Musk should be ordered to pay money back to Tesla, Mr. Hamermesh said.\nFor Mr. Musk, who now ranks among the world’s wealthiest people, the optics of a loss likely would be more meaningful than any court-ordered financial judgment, said Seth Goldstein, an analyst for Morningstar Research Services LLC.\n“You could see the board become extra diligent with regard to acquisitions that aren’t in Tesla’s current, existing industries,” Mr. Goldstein said.\nTesla investors also have enjoyed a change in fortunes since the takeover first surfaced. The vehicle makerposted its first full-year of profit in 2020. The stock, which traded at around $44when Tesla proposed buying SolarCity, closed Monday at around $686, up 4.38% on the day.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":638,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152123277,"gmtCreate":1625276941699,"gmtModify":1633941869636,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Semicon is good to get in","listText":"Semicon is good to get in","text":"Semicon is good to get in","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/152123277","repostId":"1104835932","repostType":4,"repost":{"id":"1104835932","kind":"news","pubTimestamp":1625276444,"share":"https://www.laohunote.com/m/news/1104835932?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:40","market":"us","language":"en","title":"Taiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It<blockquote>台积电进入的时机已经成熟：我是这样玩的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104835932","media":"The Street","summary":"I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.Thinking about... Taiwan Semiconductor  . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections,","content":"<p>  <i>I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.</i>  Thinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.</p><p><blockquote><i>我对半决赛很感兴趣已经有一段时间了，因为广泛覆盖的短缺创造了巨大的定价能力。</i>想着……台积电（TSM）。台积电将于 7 月 16 日公布两周后的第二季度财务业绩。目前，华尔街正在寻找0.93美元的每股收益，意见没有太大分歧。这个名字在分析师群体中并不那么受欢迎。我只能找到四位分析师做出了季度预测，六位做出了年度预测，只有两位真正挺身而出，在过去六个月的任何时候都设定了目标价。</blockquote></p><p> The range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.</p><p><blockquote>这四位分析师对 TSM 第二季度每股收益的预期范围仅为 0.91 美元至 0.95 美元。华尔街预计本季度收入约为 132 亿美元，同比销售额增长约 27%。这将是连续第二个季度销售增长加速。</blockquote></p><p> <b>This Week</b></p><p><blockquote><b>本周</b></blockquote></p><p> It was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).</p><p><blockquote>那天是星期二。DigiTimes报道称，由于数据中显示了iPhone的出货量，台积电预计将在6月份创下创纪录的收入。显然，由于中国大陆禁止比特币采矿，客户比特大陆减少了购买量，并没有像一些人预期的那样对 TSM 的销售造成影响。对 5 纳米和 7 纳米处理器的需求抵消了该采矿业务的损失，因为该公司及时为苹果 (AAPL) 智能手机发货了芯片，并出现在 6 月份的数据中。预计该公司本财年销售额将保持 20% 的增长，并且 6 月份可能与 5 月份持平（这是一件好事）。</blockquote></p><p> Early this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.</p><p><blockquote>今天（周五）凌晨，有消息称苹果和英特尔（INTC）将成为首批测试TSM 3nm生产技术的客户，如果一切顺利，该技术将于2022年下半年部署。《日经亚洲》报道称，英特尔正在规划至少两个项目，围绕新的3nm芯片为笔记本电脑和数据中心设计CPU。</blockquote></p><p> Just a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.</p><p><blockquote>只是一个快速教程。TSM的5纳米芯片是目前最先进的芯片，如果你有一部iPhone 12，你就有了其中一个芯片。TSM表示，与当前的5nm产品相比，新的3nm芯片将使计算性能提高10%至15%，同时还将功耗降低25%至30%。</blockquote></p><p> As an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.</p><p><blockquote>顺便说一句，英特尔本周早些时候宣布推迟蓝宝石急流数据中心处理器。虽然这在华尔街被视为先进微设备公司 (AMD) 甚至英伟达 (NVDA) 从这家笨重的巨头手中夺取更多市场份额的又一次机会，但也至少让这位投资者想知道英特尔如何认为他们将很快达到这样的地步，即他们可以作为其他芯片设计商的全球代工厂与台积电等公司竞争。</blockquote></p><p> <b>Wall Street</b></p><p><blockquote><b>华尔街</b></blockquote></p><p> Of those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.</p><p><blockquote>在我提到的少数几个真正报道这个名字的分析师中，只有一个对这个消息做出了反应。Susquehanna 的五星级（TipRanks 评级）分析师 Mehdi Hosseini 将该名称从“负面”上调至“中性”，同时将目标价从 85 美元上调至 105 美元。最近唯一一位给出目标价的分析师是 Argus Research 的 Jim Kelleher（也是五星级）。Kelleher 一周前将其命名为“买入”，目标价为 150 美元。</blockquote></p><p> <b>The Chart</b></p><p><blockquote><b>图表</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/19c41db815e4b2cbbc0f31979123e544\" tg-width=\"700\" tg-height=\"530\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Readers will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.</p><p><blockquote>读者会看到，在四月下旬，这些股票成功地将下降三角形（这是一个看跌模式）变成了平坦的基础模式，而从未让三角形关闭。自触底以来，TSM 收复了 21 日均线和 50 日移动平均线，并利用前者作为昨天疲软的支撑。</blockquote></p><p> <b>The Plan</b></p><p><blockquote><b>计划</b></blockquote></p><p> Regular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.</p><p><blockquote>老粉丝们都知道，我对半决赛已经有一段时间了，尽管，或者更确切地说，是因为广泛覆盖的短缺正在创造巨大的定价能力。</blockquote></p><p> I am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.</p><p><blockquote>我已经做多了 AMD 和 Marvell Technology (MRVL)，这两家公司都是可靠的投资。我是 long Micron (MU)，直到本周看起来还不错。我喜欢英伟达，这简直是史诗。</blockquote></p><p> I am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.</p><p><blockquote>我也是长半导体设备名称……Applied Materials (AMAT) 和 Brooks Automation (BRKS)，这两个名字都不错，分别是 meh。我可能有空间容纳一家大型代工厂，一旦英特尔试图涉足他们的业务，它可能会做英特尔的短期工作（我的观点）。</blockquote></p><p> I think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).</p><p><blockquote>我认为TSM进入的时机已经成熟，可能是预期头寸规模的1/8。我预计在测试 21 日均线或收复 122 美元水平（这是我们的支点）时，会增加第二批 1/8。我们采取该枢轴时的目标价将是 144 美元，而目前（购买这些股票后），我将选择 110 美元的恐慌点（初始入场 8% 折扣）。</blockquote></p><p></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Taiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It<blockquote>台积电进入的时机已经成熟：我是这样玩的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTaiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It<blockquote>台积电进入的时机已经成熟：我是这样玩的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-07-03 09:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <i>I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.</i>  Thinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.</p><p><blockquote><i>我对半决赛很感兴趣已经有一段时间了，因为广泛覆盖的短缺创造了巨大的定价能力。</i>想着……台积电（TSM）。台积电将于 7 月 16 日公布两周后的第二季度财务业绩。目前，华尔街正在寻找0.93美元的每股收益，意见没有太大分歧。这个名字在分析师群体中并不那么受欢迎。我只能找到四位分析师做出了季度预测，六位做出了年度预测，只有两位真正挺身而出，在过去六个月的任何时候都设定了目标价。</blockquote></p><p> The range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.</p><p><blockquote>这四位分析师对 TSM 第二季度每股收益的预期范围仅为 0.91 美元至 0.95 美元。华尔街预计本季度收入约为 132 亿美元，同比销售额增长约 27%。这将是连续第二个季度销售增长加速。</blockquote></p><p> <b>This Week</b></p><p><blockquote><b>本周</b></blockquote></p><p> It was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).</p><p><blockquote>那天是星期二。DigiTimes报道称，由于数据中显示了iPhone的出货量，台积电预计将在6月份创下创纪录的收入。显然，由于中国大陆禁止比特币采矿，客户比特大陆减少了购买量，并没有像一些人预期的那样对 TSM 的销售造成影响。对 5 纳米和 7 纳米处理器的需求抵消了该采矿业务的损失，因为该公司及时为苹果 (AAPL) 智能手机发货了芯片，并出现在 6 月份的数据中。预计该公司本财年销售额将保持 20% 的增长，并且 6 月份可能与 5 月份持平（这是一件好事）。</blockquote></p><p> Early this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.</p><p><blockquote>今天（周五）凌晨，有消息称苹果和英特尔（INTC）将成为首批测试TSM 3nm生产技术的客户，如果一切顺利，该技术将于2022年下半年部署。《日经亚洲》报道称，英特尔正在规划至少两个项目，围绕新的3nm芯片为笔记本电脑和数据中心设计CPU。</blockquote></p><p> Just a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.</p><p><blockquote>只是一个快速教程。TSM的5纳米芯片是目前最先进的芯片，如果你有一部iPhone 12，你就有了其中一个芯片。TSM表示，与当前的5nm产品相比，新的3nm芯片将使计算性能提高10%至15%，同时还将功耗降低25%至30%。</blockquote></p><p> As an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.</p><p><blockquote>顺便说一句，英特尔本周早些时候宣布推迟蓝宝石急流数据中心处理器。虽然这在华尔街被视为先进微设备公司 (AMD) 甚至英伟达 (NVDA) 从这家笨重的巨头手中夺取更多市场份额的又一次机会，但也至少让这位投资者想知道英特尔如何认为他们将很快达到这样的地步，即他们可以作为其他芯片设计商的全球代工厂与台积电等公司竞争。</blockquote></p><p> <b>Wall Street</b></p><p><blockquote><b>华尔街</b></blockquote></p><p> Of those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.</p><p><blockquote>在我提到的少数几个真正报道这个名字的分析师中，只有一个对这个消息做出了反应。Susquehanna 的五星级（TipRanks 评级）分析师 Mehdi Hosseini 将该名称从“负面”上调至“中性”，同时将目标价从 85 美元上调至 105 美元。最近唯一一位给出目标价的分析师是 Argus Research 的 Jim Kelleher（也是五星级）。Kelleher 一周前将其命名为“买入”，目标价为 150 美元。</blockquote></p><p> <b>The Chart</b></p><p><blockquote><b>图表</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/19c41db815e4b2cbbc0f31979123e544\" tg-width=\"700\" tg-height=\"530\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Readers will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.</p><p><blockquote>读者会看到，在四月下旬，这些股票成功地将下降三角形（这是一个看跌模式）变成了平坦的基础模式，而从未让三角形关闭。自触底以来，TSM 收复了 21 日均线和 50 日移动平均线，并利用前者作为昨天疲软的支撑。</blockquote></p><p> <b>The Plan</b></p><p><blockquote><b>计划</b></blockquote></p><p> Regular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.</p><p><blockquote>老粉丝们都知道，我对半决赛已经有一段时间了，尽管，或者更确切地说，是因为广泛覆盖的短缺正在创造巨大的定价能力。</blockquote></p><p> I am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.</p><p><blockquote>我已经做多了 AMD 和 Marvell Technology (MRVL)，这两家公司都是可靠的投资。我是 long Micron (MU)，直到本周看起来还不错。我喜欢英伟达，这简直是史诗。</blockquote></p><p> I am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.</p><p><blockquote>我也是长半导体设备名称……Applied Materials (AMAT) 和 Brooks Automation (BRKS)，这两个名字都不错，分别是 meh。我可能有空间容纳一家大型代工厂，一旦英特尔试图涉足他们的业务，它可能会做英特尔的短期工作（我的观点）。</blockquote></p><p> I think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).</p><p><blockquote>我认为TSM进入的时机已经成熟，可能是预期头寸规模的1/8。我预计在测试 21 日均线或收复 122 美元水平（这是我们的支点）时，会增加第二批 1/8。我们采取该枢轴时的目标价将是 144 美元，而目前（购买这些股票后），我将选择 110 美元的恐慌点（初始入场 8% 折扣）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO\">The Street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMAT":"应用材料","AAPL":"苹果","MU":"美光科技","NVDA":"英伟达","AMD":"美国超微公司","MRVL":"迈威尔科技","INTC":"英特尔","TSM":"台积电"},"source_url":"https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104835932","content_text":"I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.\n\nThinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.\nThe range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.\nThis Week\nIt was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).\nEarly this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.\nJust a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.\nAs an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.\nWall Street\nOf those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.\nThe Chart\n\nReaders will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.\nThe Plan\nRegular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.\nI am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.\nI am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.\nI think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).","news_type":1,"symbols_score_info":{"MRVL":0.9,"INTC":0.9,"MU":0.9,"NVDA":0.9,"AMAT":0.9,"TSM":0.9,"BRKS":0.9,"AMD":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860477345,"gmtCreate":1632206126087,"gmtModify":1632802068110,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Apple still a good stock for long term hold","listText":"Apple still a good stock for long term hold","text":"Apple still a good stock for long term hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/860477345","repostId":"1147257083","repostType":4,"repost":{"id":"1147257083","kind":"news","pubTimestamp":1632204394,"share":"https://www.laohunote.com/m/news/1147257083?lang=zh_CN&edition=full","pubTime":"2021-09-21 14:06","market":"us","language":"en","title":"Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师称苹果 iPhone 13 设置看起来比 iPhone 12 更糟糕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147257083","media":"Barrons","summary":"Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPh","content":"<p>Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.</p><p><blockquote>苹果的股票几乎取决于该公司每年的 iPhone 销量。尽管上周推出的 iPhone 13 并没有让任何人感到意外，但我们有充分的理由预测它将对股价产生积极影响。</blockquote></p><p> But New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.</p><p><blockquote>但 New Street Research 分析师 Pierre Ferragu 在一份研究报告中写道，投资者应对苹果（股票代码：AAPL）即将推出的 iPhone 13 销售持谨慎态度。它不是手机本身，它看起来像一个强大的硬件，包含几个增量更新。问题是华尔街正在讨论的可能升级的人数。</blockquote></p><p> Several reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.</p><p><blockquote>费拉古写道，几份报告称，有超过 4.5 亿部三年或更久的 iPhone，似乎有近 5 亿人可能想要升级。因此，苹果多头预测即将到来的一批手机将有一个强劲的周期。</blockquote></p><p> But Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.</p><p><blockquote>但费拉古表示，这忽略了一个重要因素：大多数购买新手机的人现在每两年都会升级一次，例如，要么以旧换新，要么传给孩子。他们的手机在二级市场被重复使用，二级市场每两到三年升级一次。</blockquote></p><p> Taking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.</p><p><blockquote>考虑到今年可能会升级的手机（来自拥有大约两年使用的 iPhone 的人），Ferragu 得出的可能更换数量要少得多：1.9 亿部。这比去年的数字要少，这表明 iPhone 13 的设置不如 iPhone 12。</blockquote></p><p> In May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.</p><p><blockquote>5 月，Ferragu 将苹果股票评级下调至卖出，并将目标价定为 90 美元。当时，他写道，他的团队认为新手机的出货量在 1.8 亿至 2 亿部之间，存在 “重大下行风险”，而普遍估计为 2.34 亿部。</blockquote></p><p> Of the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.</p><p><blockquote>在研究苹果的 44 名分析师中，73% 给予股票买入评级，23% 给予持有评级。</blockquote></p><p> Apple stock fell 2.1% to $142.9 on Tuesday&nbsp;amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the&nbsp;S&amp;P 500 inde&nbsp;stands at 16%.</p><p><blockquote>由于大盘疲软，苹果股价周二下跌 2.1%，至 142.9 美元。今年股价上涨了 7.7%，而印度标普500的可比涨幅为 16%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师称苹果 iPhone 13 设置看起来比 iPhone 12 更糟糕</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师称苹果 iPhone 13 设置看起来比 iPhone 12 更糟糕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-21 14:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.</p><p><blockquote>苹果的股票几乎取决于该公司每年的 iPhone 销量。尽管上周推出的 iPhone 13 并没有让任何人感到意外，但我们有充分的理由预测它将对股价产生积极影响。</blockquote></p><p> But New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.</p><p><blockquote>但 New Street Research 分析师 Pierre Ferragu 在一份研究报告中写道，投资者应对苹果（股票代码：AAPL）即将推出的 iPhone 13 销售持谨慎态度。它不是手机本身，它看起来像一个强大的硬件，包含几个增量更新。问题是华尔街正在讨论的可能升级的人数。</blockquote></p><p> Several reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.</p><p><blockquote>费拉古写道，几份报告称，有超过 4.5 亿部三年或更久的 iPhone，似乎有近 5 亿人可能想要升级。因此，苹果多头预测即将到来的一批手机将有一个强劲的周期。</blockquote></p><p> But Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.</p><p><blockquote>但费拉古表示，这忽略了一个重要因素：大多数购买新手机的人现在每两年都会升级一次，例如，要么以旧换新，要么传给孩子。他们的手机在二级市场被重复使用，二级市场每两到三年升级一次。</blockquote></p><p> Taking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.</p><p><blockquote>考虑到今年可能会升级的手机（来自拥有大约两年使用的 iPhone 的人），Ferragu 得出的可能更换数量要少得多：1.9 亿部。这比去年的数字要少，这表明 iPhone 13 的设置不如 iPhone 12。</blockquote></p><p> In May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.</p><p><blockquote>5 月，Ferragu 将苹果股票评级下调至卖出，并将目标价定为 90 美元。当时，他写道，他的团队认为新手机的出货量在 1.8 亿至 2 亿部之间，存在 “重大下行风险”，而普遍估计为 2.34 亿部。</blockquote></p><p> Of the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.</p><p><blockquote>在研究苹果的 44 名分析师中，73% 给予股票买入评级，23% 给予持有评级。</blockquote></p><p> Apple stock fell 2.1% to $142.9 on Tuesday&nbsp;amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the&nbsp;S&amp;P 500 inde&nbsp;stands at 16%.</p><p><blockquote>由于大盘疲软，苹果股价周二下跌 2.1%，至 142.9 美元。今年股价上涨了 7.7%，而印度标普500的可比涨幅为 16%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/apple-iphone-13-51632155026?mod=hp_LEADSUPP_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-iphone-13-51632155026?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147257083","content_text":"Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.\n\nBut New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.\n\nSeveral reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.\nBut Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.\nTaking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.\nIn May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.\nOf the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.\nApple stock fell 2.1% to $142.9 on Tuesday amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the S&P 500 inde stands at 16%.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":3364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803372098,"gmtCreate":1627426031714,"gmtModify":1631893876463,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Good time to accumulate","listText":"Good time to accumulate","text":"Good time to accumulate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803372098","repostId":"1148712151","repostType":4,"isVote":1,"tweetType":1,"viewCount":1116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144595003,"gmtCreate":1626305202202,"gmtModify":1633928147125,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"But my portfolio is deep red","listText":"But my portfolio is deep red","text":"But my portfolio is deep red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/144595003","repostId":"2151548988","repostType":4,"isVote":1,"tweetType":1,"viewCount":726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345720073,"gmtCreate":1618355136092,"gmtModify":1634293575378,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Coinbase bull together with crypto","listText":"Coinbase bull together with crypto","text":"Coinbase bull together with crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/345720073","repostId":"1194635432","repostType":4,"isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889181765,"gmtCreate":1631114698157,"gmtModify":1631887249722,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"title":"","htmlText":"Inflation coming","listText":"Inflation coming","text":"Inflation coming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/889181765","repostId":"1162593236","repostType":4,"isVote":1,"tweetType":1,"viewCount":2893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}